Gold analysis next week: Gold markets continue to have support at the 200 day moving average

Gold markets fell back within the beginning of the Friday session, hitting the 200 days moving average again. this is often a neighborhood that has been supportive quite once, and therefore the incontrovertible fact that we've turned to make a touch hammer indicates that we will move higher. Ultimately, we have the subject folks stimulus, yet strength is meant to point out during this market. After some quite a stimulus laws are passed, one might think that the US currency will lose its strength, and since the gold markets are priced within the US dollar, it's very likely that we'll see the dollar push gold higher for this reason alone.

Moreover, central banks around the world do quantitative easing and easing to depreciate the fiat currency, as we are during a "colossal race to the bottom". during this case, it's likely that the gold markets are going to be favored going forward, quite frankly although we've pulled back a touch, once you check out the future trend, we are only falling back to the 38.2% Fibonacci retracement level.

 within the short term, the 50 days EMA is near the $ 1875 level, and if we will break above that, then it's likely that we go towards the $ 1900 level. Then, we will check out the $ 1950 level. I feel that each time we retreat a touch within the gold market, it's possible that we'll find people willing to travel in and buy a touch little bit of gold so as to create a much bigger position. Moreover, the candle indicates support beneath it, and it's worth noting that the last three days during a row saw buyers within the very same area. However, the 200 days EMA is simply below, which provides an argument for further supportive actions. I feel we'll eventually get to the $ 2100 level again, but I estimate it'll take a while to urge there. I'm not thinking of selling gold anytime soon, albeit we fell a touch within the last two months, we are still in an uptrend.

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