Technical Analysis (Gold) : XAU/USD 7 April 2020

Forex Technical Analysis : XAUUSD (Gold)

Date : 7 April 2020

Pivot point : 1636.00

Our preference : long positions above 1636.00 with targets at 1678.00 & 1697.00 in extension.

Alternative scenario : below 1636.00 look for further downside with 1624.00 & 1610.00 as targets.

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

Supports and resistances :

1704.00 **
1697.00 *
1678.00
1657.91 – Last price
1636.00
1624.00 *
1610.00 **

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

Source : Trading Central

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