Weekly Forecast (24.2.2020 – 28.2.2020)

An additional signal in favor of the growth of quotations and gold prices in the current trading week February 24 — 28, 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 area of ​​1525. 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 1445. 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 1675.

GOLD Price Forecast and Analysis February 24 — 28, 2020 suggests an attempt to test the support level near the area of ​​1560. Then, the continuation of the growth of GOLD prices with the target above the level of 1765. 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 1525. This will indicate a continued decline in quotations to the area below the level of 1445.

 

Weekly Target for 24.2.2020 - 28.2.2020 is +1.750 PIPs Profit

Posted: February 23, 2020 at 7:54 pm