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06.02.202607:01 Forex Analyse & Reviews: Trading Signals for GOLD for February 6-9, 2026: buy above $4,725 (200 EMA - 8/8 Murray)

Relevance up to 00:00 2026-02-20 UTC--5

Exchange Rates 06.02.2026 analysis

Gold is trading around $4,803, rebounding after reaching 61.8% ($4,650) of the Fibonacci retracement from the low of $4,401 to the high of $5,090.

After this sharp technical correction in less than 24 hours from $5,020 to the 61.8% Fibonacci, gold is rebounding. It is likely to continue rising in the coming days, potentially reaching the psychological level of $5,000. It is expected to exceed this zone and reach the +1/8 Murray around $5,312.

If, in the coming hours, gold could make a technical correction towards the 50% Fibonacci retracement or towards the 200 EMA around $4,727, it will be seen as an opportunity to open long positions.

If gold falls and consolidates below the 61.8% Fibonacci level and below the 200 EMA, the outlook could be negative, and gold is expected to retreat and reach the $4,500 level. It could even reach the January 30 low around $4,400.

The Eagle indicator is showing a positive signal, so it's a good idea to buy gold during a technical correction in the coming hours, provided that the price consolidates above $4,670.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dimitrios Zappas,
Analytical expert of InstaSpot
© 2007-2026
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