Yesterday gold continuously fell. But the 1908 showed a rebound which is the largest since it started falling from 1980 level.
Today also we may expect gold to test this level and start pull back to levels above 1925 and 1950 if price is able to sustain above 1900 range.
However there is very good buying zone in 1880 and if price falls to this level we will see a strong pull back.
Today there is FOMC. So trade with SL. The bearish trend seems to have come to end. Presently price is accumulating and will soon find a direction after FOMC.
As trend is bearish we suggest to go for short trades only above support levels. And wait for reversal to go for buy
The important support today is 1900 and 1880. The resistance levels are 1925 and 1945.
Trading suggestion
Buy 1880 SL 1870 TP 1900
Sell 1925 SL 1935 TP 1908
Sell 1945 SL 1955 TP 1925
Buy 1908 SL 1898 TP 1930
Today also we may expect gold to test this level and start pull back to levels above 1925 and 1950 if price is able to sustain above 1900 range.
However there is very good buying zone in 1880 and if price falls to this level we will see a strong pull back.
Today there is FOMC. So trade with SL. The bearish trend seems to have come to end. Presently price is accumulating and will soon find a direction after FOMC.
As trend is bearish we suggest to go for short trades only above support levels. And wait for reversal to go for buy
The important support today is 1900 and 1880. The resistance levels are 1925 and 1945.
Trading suggestion
Buy 1880 SL 1870 TP 1900
Sell 1925 SL 1935 TP 1908
Sell 1945 SL 1955 TP 1925
Buy 1908 SL 1898 TP 1930
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.