Gold price analysis February 17

2月17日

⭐️Fundamental Analysis
Gold prices continued to rise after eight consecutive weeks, supported by the weakening of the US dollar and US Treasury yields. The market expects the Russia-Ukraine conflict to end soon as Donald Trump is expected to meet Vladimir Putin in Saudi Arabia.

Decreasing geopolitical risks and expectations of two Fed rate cuts in 2025 due to weak retail sales have negatively impacted the US dollar, helping gold prices rise. However, profit-taking pressure has limited the increase of gold.

In addition, the US-EU trade tensions over tariff policies also boosted demand for gold. This week, gold prices may fluctuate strongly due to the US holiday and comments from Fed officials ahead of the Monetary Policy Meeting Minutes.

⭐️Technical Analysis
Gold is facing a resistance zone and the resistance zone accepted by sellers is around 2905-2907. At the end of the Asian session or the beginning of the European session, if we cannot break this zone, we can implement SELL GOLD strategies to 2890. When GOLD breaks 2906, pay attention to around 2915 and 2929 for SELL strategies. 2887 is considered the most important support of today and can set up buy signals in that zone.

2月18日

交易進行

SELL zone 2905 Hit TP 150 pips