Technical Analysis (Gold) : XAU/USD 11 May 2020

Forex Technical Analysis : XAUUSD (Gold)

Date : 11 May 2020

Pivot point : 1700.00

Our preference : long positions above 1700.00 with targets at 1712.00 & 1716.00 in extension.

Alternative scenario : below 1700.00 look for further downside with 1690.00 & 1681.00 as targets.

Comment : a support base at 1700.00 has formed and has allowed for a temporary stabilisation.

Supports and resistances :

1723.00 **
1716.00 *
1712.00
1705.20 – Last price
1700.00
1690.00 *
1681.00 **

Warning : This information isn’t a buy-sell signal. Please use this information for the trade guideline.

Source : Trading Central

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