XauUsd- Price prediction- 20 February

OANDA:XAUUSD   Gold Spot / U.S. Dollar
In my comment from yesterday, I emphasized the significance of the 2010-2015 zone as a crucial support level. As long as this level remains intact, the bulls maintain control of the market sentiment and price direction.

Despite experiencing a trading session characterized by low liquidity due to a bank holiday, the price exhibited a perfect reversal from this critical support zone. At the time of writing, it is actively testing the very recent high.

Should the price break through this resistance level, it could pave the way for further gains, potentially propelling it towards the already established classical zone at 2040. This breakout scenario suggests a potential uptrend continuation, with bullish momentum likely to strengthen in the near term.

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