Gold Technical Analysis Aug 19, 2019
Gold Technical Analysis: The Gold declined 0.61% against the USD on Friday and closed at 1512.30. Today in the European session while Gold technical Analysis Aug 19, 2019 is preparing at 7:45 GMT, the XAU/USD trading at 1500.00, which is 0.81% lower from Yesterday’s close.
The Gold is expected to find support at 1490.00, and a fall through could take it to the next support level of 1477.00. The pair is expected to find its first resistance at 1526.00, and a rise through could take it to the next resistance level of 1539.00. For today the expected trading range is betwee 1476.00, Support and 1426.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1501.00, Support 2: 1490:00, Support 3: 1477:00
Resistance Levels: Resistance 1: 1526.00, Resistance 2: 1539.00, Resistance 3: 1550.00
Gold Buying Opportunity for Intraday Trading Aug 16, 2019
Buy near the support area 1490.00 and 1477.00 as soon as you get reversal candlesticks patterns using stop loss 2 pips below the low of reversal candlestick & keep target equal to stop loss.
Gold Selling Opportunity for Intraday Trading Aug 16, 2019
Sell near the resistance area 1526.00 and 1539.00 as soon as you get reversal candlesticks patterns using stop loss 2 pips above the high of reversal candlestick & keep target equal to stop loss.