Fluctuation Analysis of XAUUSD for 17.02.2017

During the whole week XAUUSD was in consolidation under the upper boarder of the control zone (1231.164 – 1243.880). We did not witness the predictable downtrend towards the balance level of control zones at 1178.270. This means that the XAUUSD is more likely to breakout from this control zone and continue the uptrend. If this happens, the commodity will charge towards the balance level of control zones at 1308.961.

Yesterday the commodity tested the interest rate zone at 1233.490 and showed an uptrend towards the balance level at 1242.411.

Today, gold is traded between the interest rate zone at 1233.490 and the balance level at 1242.411. We expect the return of the price towards the interest rate zone at 1251.264 and this will in return open the road for continuing uptrend of gold.

Alternatively, gold can breakout from the interest rate zone at 1233.490 and show a downtrend towards the balance level at 1224.640. A breakout from this level will mark the interest rate zone at 1215.790 as the new target.


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