Fluctuation Analysis of XAUUSD for 3.02.2017

Gold reached the lower control zone at 1112.670 – 1126.195 on the daily chart, and after testing it the pair showed an uptrend to its current target – the top area of the control zone at 1231.164 – 1243.880. During the uptrend, XAUUSD had a breakout from the balance of control zones at 1178.270. We can expect an uptrend from the price. If the pair rebounds from the control zone, we are expecting it to go towards the balance of control zones at 1178.270.

On the H1 interval we can see that it went under the zone of interest rates at 1215.790. We can expect a correctional downtrend from this zone towards the balance zone of interest rates at 1206.950 and the uptrend of gold towards the next level at 1224.640. A breakout from this level will allow the commodity to reach its daily target at the zone of interest rates at 1233.490, as well as the current target at the top of the control zone (1231.164 – 1243.880). We recommend seeking short positions from the interest rate zone at 1233.490. An alternative for this movement can be shown after the breakout from the balance zone at 1206.950 and a downtrend of the commodity towards the zone of interest rates at 1198.160.


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