An additional signal in favor of the growth of quotations and gold prices in the current trading week on February 10 — 14, 2020 will be a test of the rising trend line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the growth option for XAU/USD quotes will be a fall and a breakdown of the area of 1445. This will indicate a breakdown of the support level and a continued fall in the price of Gold with a target below the level of 1385. A confirmation of the growth in the value of the asset will be a breakdown of the resistance area and closing of quotations above the level of 1605.
GOLD Forecast and Analysis February 10 — 14, 2020,
implies an attempt to test the support level near the area of 1525. Then, the continuation of the growth of Gold prices with the target above the level of 1735. A test of the trend line on the relative strength index (RSI) will be in favor of raising quotes. Cancellation of the Gold growth option will be a fall and a breakdown of the level of 1445. This will indicate a continued decline in quotations to the area below the level of 1385.
Weekly target for 10.2.2020 - 14.2.2020 is +1.200 PIPs Profit
Posted: February 10, 2020 at 11:46 am