Gold Technical Analysis October 8, 2018
The Gold rose 0.26% against the USD on Friday and closed at 1202.70. Today in the European session while Gold technical analysis October 8, 2018 is preparing at 10:15 GMT, the XAU/USD trading at 1194.00, which is 0.72% lower from Yesterday’s close.
Gold technical analysis 8 October 2018
The Gold is expected to find support at 1193.00, and a fall through could take it to the next support level of 1189.00. The pair is expected to find its first resistance at 1206.50, and a rise through could take it to the next resistance level of 1210.50. For today the expected trading range is betwee 1189.00, Support and 1206.50 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1198.00 Support 2: 1193:00 Support 3: 1189:00
Resistance Levels: Resistance 1: 1206.50 Resistance 2: 1210.50 Resistance 3: 1215.00
Gold Buying Opportunity for Intraday Trading October 8, 2018
Buy near the support area 1293.00 and 1189.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips below the reversal candlestick & keep target equal to stop loss.
Gold Selling Opportunity for Intraday Trading October 8, 2018
Sell near the resistance area 1206.50 and 1210.50 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.