Gold Technical Analysis Aug 5, 2019
Gold Technical Analysis: The Gold declined 0.37% against the USD onFriday and closed at 1440.00. Today in the European session while Gold technical Analysis Aug 5, 2019 is preparing at 7:45 GMT, the XAU/USD trading at 1457.00, which is 1.18% higher from Yesterday’s close.
The Gold is expected to find support at 1431.00, and a fall through could take it to the next support level of 1422.00. The pair is expected to find its first resistance at 1457.00, and a rise through could take it to the next resistance level of 1467.00. For today the expected trading range is betwee 1431.00, Support and 1467.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1431.00, Support 2: 1422:00, Support 3: 1413:00
Resistance Levels: Resistance 1: 1449.00, Resistance 2: 1457.00, Resistance 3: 1467.00
Gold Buying Opportunity for Intraday Trading Aug 5, 2019
Buy near the support area 1431.00 and 1322.00 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 5, 2019
Sell near the resistance area 1457.00 and 1467.00 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.