Technical Analysis (Gold) : XAU/USD 5 August 2020

Forex Technical Analysis : XAUUSD (Gold)

Date : 5 August 2020

Pivot point : 2007.00

Our preference : long positions above 2007.00 with targets at 2031.00 & 2042.00 in extension.

Alternative scenario : below 2007.00 look for further downside with 2000.00 & 1993.00 as targets.

Comment : the RSI is bullish and calls for further upside.

Supports and resistances :

2057.00 **
2042.00 *
2031.00
2022.56 – Last price
2007.00
2000.00 *
1993.00 **

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

Source : Trading Central

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