XAU/USD quotes continue to move within the framework of growth development and completion of the formation of the “Triangle” model. At the time of publication of the forecast, the price of Gold for today is 2940 Dollars per Troy Ounce. Moving averages indicate the presence of a short-term bullish trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from asset buyers and potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a decline and a test of the support level near the 2915 area. From where we should expect an upward rebound and continued growth in the price of Gold with a potential target of uplifting the level of 3005.
GOLD Forecast and Analysis for February 20, 2025
An additional signal in favor of the growth of XAU/USD quotes will be a test of the support line on the relative strength indicator (RSI indicator). The second signal will be a rebound from the lower border of the “Triangle” model. The cancellation of the option of growth in Gold prices on February 20, 2025 will be a fall in prices and a breakout of the 2905 level. This will indicate a breakout of the support area and a continuation of the fall in asset quotes to the area below the 2845 level. It is worth expecting an acceleration in the growth of XAU/USD quotes with a breakout of the resistance area and the price closing above the 2955 level, which will indicate a breakout of the upper border of the “Triangle” pattern and the beginning of the implementation of the pattern with targets at the top.
GOLD Forecast and Analysis for February 20, 2025 suggests an attempt to develop a price decline and test the support area near the level of 2915. Further, the continuation of the growth of non-ferrous metal quotes with a target above the level of 3005. The cancellation of the option of raising Gold prices will be a fall in the value of the asset on the markets and a breakout of the level of 2905. This will indicate a continuation of the decline in the price of Gold with a potential target below the mark of 2845.
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