For Traders

Analytical Reviews

Technical analysis

10.02.201616:24 Forex Analysis & Reviews: Daily analysis of GOLD for February 10, 2016

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Overview

Gold price remains stable above the level of 1182.80, which represents the major support base that supports a continuation of the bullish wave in the upcoming period. We still wait for resuming the bullish bias to head towards our next target at 1219.70. Therefore, we prefer the bullish trend on the intraday and short-term basis, reminding you that breaking the level of 1182.80 will push the price to test 1150.56 and it might extend to 1130.60 before any new attempt to rise.

An expected trading range is seen between support of 1170.00 and resistance of 1219.70.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.