Weekly GOLD Forecast (9.3. – 13.3.2020)

An additional signal in favor of the growth of quotations and gold prices in the current trading week March 9 — 13, 2020 will be an uptrend line 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 ​​1520. 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 1425. 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 9 — 13, 2020 implies an attempt to test the support level near the area of ​​1590. Then, the continuation of the growth of Gold prices with the target above the level of 1795. A test of the trend line 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 1520. This will indicate a continued decline in quotations to the area below the level of 1425.

 

Weekly Target for 9.3.2020 - 13.3.2020 is +1.900 PIPs Profit

Posted: March 8, 2020 at 7:08 pm