FX.co ★ Daily analysis of Gold for February 16, 2017

Overview

Gold resumes its positive attempts after the sideways fluctuation that appeared this morning. It supports the continuation of our bullish trend expectations for the rest of the day, with testing the targets at the level of 1,249.94 initially. We remind you that breaching this level will push the price towards 1,260.00 as the next main station. In general, the bullish trend will remain suggested, supported by the EMA50, unless breaking 1,226.50 and most importantly 1,211.31 and holding below them. The expected trading range for today is between 1,225.00 support and 1,249.94 resistance.