#XAUUSD @ 1,873.56 Gold Price Forecast: could resume its uptrend on a sustained break of $1,900
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
Gold price has set off the week on a solid footing this Monday. Acceptance above $1,900 is critical for XAU/USD, FXStreet’s Dhwani Mehta reports.
“Gold price has yielded a decisive break above the mildly bullish 50-Daily Moving Average (DMA) at $1,873, extending Friday’s upsurge to six-week highs of $1,895. Although Gold bulls have taken a pause before resuming the uptrend. The retracement in XAU/USD could retest the 50 DMA resistance-turned-support, below which the daily low at $1,868 could come into play.”
“Gold bulls will need to take out the intraday high at $1,895 to resume the upside to test the $1,900 barrier. Daily closing above the latter is critical to initiate a meaningful advance toward the year-to-date highs of $1,960. Ahead of that, the February 3 high of $1,919 needs to be scaled by Gold buyers.”
[/s2If]
Join Our Telegram Group
