Forex Analysis: 25 Apr 2012, 13:54 UTC+00
Gold analysis for February 20, 2015

Show full picture


Show full picture

Overview :

Since our last analysis gold has been trading downwards. The price has tested the level of 1,201.42 in an ultra high volume (selling climax). According to the H4 time frame, we can observe supply in an ultra high volume (selling climax) in the background, which is a sign that selling gold at this stage looks risky. We are still waiting for larger activity on the market. I have placed Fibonacci retracement according to the low point at the price of 1,197.43 and got Fibonacci retracement 38.2% at the price of 1,240.00 and Fibonacci retracement 61.8% at the price of 1,265.00. My advice is to watch for potential buying opportunities on the lows (buy on the dips). Major support is still around the price of 1,200.00.

Daily Fibonacci pivot points:

Resistance levels :

R1: 1,218.66

R2: 1,222.84

R3: 1,229.60

Support levels :

S1: 1,205.14

S2: 1,200.96

S3: 1,194.20

Trading recommendations: Watch for potential buying opportunities after retracement (buy on the dips).

Performed by
analytical expert: Albert Fitoussi
InstaForex Group © 2007-2015
 Published: 25 Apr 2012, 13:54 UTC+00

Recommend: Forex Analytics
Global macro overview for 08/10/2015
8 Oct 2015, 12:53 UTC+00   
Views today 1175
Technical analysis of Gold for October 08, 2015
8 Oct 2015, 14:59 UTC+00   
Views today 1002
Technical analysis of USD/JPY for October 08, 2015
8 Oct 2015, 06:50 UTC+00   
Views today 1004
Technical analysis of USD/CHF for October 8, 2015
8 Oct 2015, 15:03 UTC+00   
Views today 905
Gold technical analysis for October 8, 2015
8 Oct 2015, 11:46 UTC+00   
Views today 942