Weekly Forecast (17.2.2020 – 21.2.2020)

An additional signal in favor of the growth of quotations and GOLD prices in the current trading week February 17 — 21, 2020 will be a test of the ascending 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 ​​1495. 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 1405. 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.

Implies an attempt to test the support level near the area of ​​1535. Then, the continuation of the growth of Gold prices with the target above the level of 1735. A trend line test on the relative strength index (RSI) will favor the rise in quotations. Cancellation of the GOLD growth option will be a fall and a breakdown of the level of 1495. This will indicate a continued decline in quotations to the area below the level of 1405.

 

Weekly Target for 17.2.2020 - 21.2.2020 is +960 PIPs Profit

Posted: February 16, 2020 at 10:01 pm