Technical Analysis (Gold) : XAU/USD 12 August 2020

Forex Technical Analysis : XAUUSD (Gold)

Date : 12 August 2020

Pivot point : 1908.00

Our preference : short positions below 1908.00 with targets at 1860.00 & 1840.00 in extension.

Alternative scenario : above 1908.00 look for further upside with 1929.00 & 1951.00 as targets.

Comment : the RSI is bearish and calls for further decline.

Supports and resistances :

1951.00 **
1929.00 *
1908.00
1889.55 – Last price
1860.00
1840.00 *
1819.00 **

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

Source : Trading Central

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