Technical Analysis (Gold) : XAU/USD 6 April 2020

Forex Technical Analysis : XAUUSD (Gold)

Date : 6 April 2020

Pivot point : 1605.00

Our preference : long positions above 1605.00 with targets at 1627.00 & 1637.00 in extension.

Alternative scenario : below 1605.00 look for further downside with 1595.00 & 1585.00 as targets.

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

Supports and resistances :

1645.00 **
1637.00 *
1627.00
1616.30 – Last price
1605.00
1595.00 *
1585.00 **

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

Source : Trading Central

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