XAU/USD analysis for 2.12

Gold price shows calm negative trades, to gradually approach the 1770.00 level. This keeps the bearish trend scenario active in the intraday term, and we expect the price to exceed this level, which will open the way to achieving negative targets extending to 1734.00.

The moving average 50 continues to pressure on the price negatively; it supports expectations of more decline. Price’s stability below 1797.00 is important to achieve the suggested targets.

The expected trading range for today: between the support 1755.00 and the resistance 1790.00

The forecast general trend for today: bearish