Weekly Forecast (2.3.2020 – 6.3.2020)

An additional signal in favor of the growth of quotations and gold prices in the current trading week March 2 — 6, 2020 will be an uptrend test 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 1515 area. 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 1435. 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 1685.

GOLD Price Forecast and Analysis March 2 — 6, 2020 implies an attempt to test the support level near the area of ​​1585. Then, the continuation of the growth of GOLD prices with the target above the level of 1775. 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 1515. This will indicate a continued decline in quotations to the area below the level of 1435.

 

Weekly Target for 2.3.2020 - 6.3.2020 is +1.200 PIPs Profit

Posted: February 29, 2020 at 10:17 pm