Technical Analysis (Gold) : XAU/USD 20 August 2020

Forex Technical Analysis : XAUUSD (Gold)

Date : 20 August 2020

Pivot point : 1924.00

Our preference : long positions above 1924.00 with targets at 1965.00 & 1976.00 in extension.

Alternative scenario : below 1924.00 look for further downside with 1906.00 & 1893.00 as targets.

Comment : a support base at 1924.00 has formed and has allowed for a temporary stabilisation.

Supports and resistances :

1987.00 **
1976.00 *
1965.00
1944.88 – Last price
1924.00
1906.00 *
1893.00 **

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

Source : Trading Central

If you open a live account with a broker that support Trading Central, you’ll get all technical analysis.