Technical Analysis (Gold) : XAU/USD 3 August 2020

Forex Technical Analysis : XAUUSD (Gold)

Date : 3 August 2020

Pivot point : 1970.00

Our preference : long positions above 1970.00 with targets at 1981.50 & 1988.00 in extension.

Alternative scenario : below 1970.00 look for further downside with 1959.00 & 1951.50 as targets.

Comment : a support base at 1970.00 has formed and has allowed for a temporary stabilisation.

Supports and resistances :

2000.00 **
1988.00 *
1981.50
1974.70 – Last price
1970.00
1959.00 *
1951.50 **

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.