Gold Technical Analysis July 12, 2019
Gold Technical Analysis: The Gold declined 1.09% against the USD on Thursday and closed at 1403.65. Today in the European session while Gold technical Analysis July 12, 2019 is preparing at 6:45 GMT, the XAU/USD trading at 1408.00, which is 0.30% higher from Yesterday’s close.
The Gold is expected to find support at 1394.00, and a fall through could take it to the next support level of 1384.00. The pair is expected to find its first resistance at 1420.00, and a rise through could take it to the next resistance level of 1437.00. For today the expected trading range is betwee 1400.00, Support and 1437.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1394.00, Support 2: 1384:00, Support 3: 1368:00
Resistance Levels: Resistance 1: 1420.00, Resistance 2: 1437.00, Resistance 3: 1446.00
Gold Buying Opportunity for Intraday Trading July 12, 2019
Buy near the support area 1394.00 and 1384.00 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 July 12, 2019
Sell near the resistance area 1420.00 and 1437.00 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.