Over the past week, the price of the GOLD was growing steadily. This was caused by the weakness of the USD, as well as by the fact that investors were looking for a "quiet harbor" to trade. Thus, the week for GOLD ended near the $ 1353 level.
For the upcoming week, we consider the following scenario - the rollback of the value of gold to the levels of $ 1331 and even $ 1313, and then - the resumption of the upward movement.
In general, many investors and analysts expect that in 2018, most likely of gold to $ 1500. To our mind this analysis is justified, but the Fed's rhetoric, the policy of the American leader and the situation on the world stage as a whole, may have a significant influence on the price of the yellow metal.
EUR / USD
The main pair has already tested the crucial resistance level twice, that does not allow the euro to go further - 1.25. The second test was more confident, but after the breakdown, an even stronger correction followed. Until Wednesday, more attention will be paid to the EURO, and after that indices of business activity in the euro zone, the publication of FOMC protocols, sales in the secondary market of the States will take place. Thursday and Friday will be especially volatile: the minutes of the ECB meeting, business activity, inflation, of course, stocks of crude oil, GDP in the euro area.
Preliminary predicted a small consolidation within the levels of 1,25-1,23. With possible breakdowns, the favorite time of aggressive shorters. At the moment, we will observe a correction to 1.23, with a half-growing continuation of the common bull trend, whose lines have been adjusted already three times. It is desirable to act on the situation, as reports and reports are published.
The downward movement from the end of January slowed down, forming a wedge on the daily chart, will the figure work out? But the fundamental moods say that the gas has chances to test the next support levels of $2.60-$2.55. The levels proved to be important last year and the year before. In case of breakdown, we can talk about the continuation of the downward movement, but if the buyers are stronger than bulls, upward movement will follow.