Gold Daily Analysis : February 19, 2021

The daily analysis of gold on February 19, 2021 this time discusses the movement of gold prices to decline again, in market trading on Thursday (February 18, 2021) yesterday. In today's Friday trading, it is expected to continue its decline. The fall in gold prices is due to the strengthening of the US Dollar, and the shift in investment made by market participants. In addition, generally every weekend, precisely on Friday, investors will take profit taking their positions in the market, so that the price of Gold will decrease. The US dollar moved higher in Friday's trading in the Asian session, the US dollar rebounded after previously weakening. The US dollar had weakened quite far for about 10 days, especially after the release of disappointing employment numbers (NFP) and unemployment data and caused a decrease in market participants' confidence in the United States which can be faster in economic recovery from Covid-19 compared to other countries in the world. The greenback condition has slowly but surely returned as a safe-haven asset that market participants are looking at, especially after some US economic data was released, even though the weekly Jobless Claims data was released. The massive US fiscal stimulus plan, plus the successful distribution of Covid-19 vaccines is a clear picture of the US economic recovery this year," wrote Rodrigo Catril, one of the senior foreign exchange strategists at National Australia Bank Sydney. Meanwhile, the condition of the Pound Sterling tends to move sideways, after previously strengthening to the highest level for almost 3 years. This strengthening occurred after the UK government continuously implemented a rapid and targeted Covid-19 vaccination program. On the other hand, the movement of the Euro strengthened after the stance of the European Central Bank (ECB) which provided more stimulus support, so it had a positive impact on the movement of EURUSD.

Gold Daily Analysis Prediction

Today's prediction on the EMAS pair is expected to continue its decline, and the recommended OP (Open Position) is SELL at the level of 1755.00, with a Target Profit (TP) of 5-10 points and a Stop Loss of 3-5 points. This the analysis of the gold daily on February 19, 2021. Keep Money Management and Risk Management first in your trading. Visit GIC Indonesia to get information about the world of trading. You can also join us in the GIC Trade Telegram Community and GIC Trade Telegram Channel. Don't forget to check out the GIC Indonesia Youtube account which is full of a lot of information, and follow our Instagram account to get information about various interesting webinars that you can participate in.