Technical Analysis (Gold) : XAU/USD 17 November 2020

Forex Technical Analysis : XAUUSD (Gold)

Date : 17 November 2020

Pivot point : 1879.00

Our preference : long positions above 1879.00 with targets at 1899.00 & 1909.00 in extension.

Alternative scenario : below 1879.00 look for further downside with 1871.00 & 1864.00 as targets.

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

Supports and resistances :

1916.00 **
1909.00 *
1899.00
1886.60 – Last price
1879.00
1871.00 *
1864.00 **

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

Source : Trading Central

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