XAU/USD – Gold Weekly Analysis 20 February 2017

Comments Off on XAU/USD – Gold Weekly Analysis 20 February 2017


The crucial points are:



The price of gold has continued to fluctuate within a range from 1219 level of support to 1244 level of resistance. The large downward spikes suggest that the most possible scenario is that bulls are having a temporary pause, before they manage to move price to higher levels. Moreover, the rising trendline seems to be unbreakable until now. Although, the FOMC meeting minutes’ publication on Wednesday is possible to determine the course of gold’s price.

Charting outcome: Marginally bullish – Neutral      

INDICATORS (Computerized T.A)

The crucial points are:




The indicators are signaling that a strong uptrend has occurred. The moving averages have kept the same slopes, while the spread between the positive and the negative dynamic has tightened. The trend dynamic has marginally fallen by -3.87%, such as the market’s volatility has marginally fallen by -1.64%. The oscillators have remained into overbought levels.

Indicators outcome: Bullish – Marginally bullish    


The indicators and charting seem to confirm that the market is more likely to move in a positive way. However, if the price doesn’t breach the 1244.00 level of resistance, the market is possible to move in a neutral path as well. If the price appreciates higher than 1244.00 level, the next resistance is possible to occur at 1264.00 level. On the contrary, if the price breaks lower than 1219.00 level, the next support could occur at 1187.00 level.

%d bloggers like this: