Technical Analysis (Gold) : XAU/USD 14 May 2020

Forex Technical Analysis : XAUUSD (Gold)

Date : 14 May 2020

Pivot point : 1705.00

Our preference : long positions above 1705.00 with targets at 1720.00 & 1728.00 in extension.

Alternative scenario : below 1705.00 look for further downside with 1697.00 & 1690.00 as targets.

Comment : even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances :

1736.00 **
1728.00 *
1720.00
1711.81 – Last price
1705.00
1697.00 *
1690.00 **

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

Source : Trading Central

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