26.02.202114:58 Forex Analysis & Reviews: Analysis of Gold for February 26,.2021 - First downside target at the price of $1.765. Potetnial for second dowwnside target at $1.722

BOE's Haldane: There is risk of central bank complacency allowing the inflation cat out of the bag

High degree of two-sided uncertainty on inflation is understandable

  • We might see higher and more sustained rise in UK inflation than expected
  • We may potentially overshoot target for a more sustained period
  • If economies bounce on vaccine, policy could overstimulate the economy
  • In turn, also overstimulate inflation pressures
  • But also reasonable to expect disinflationary trends to persist
  • Costs to the economy and BOE getting these judgments wrong could be significant

Damned if you do, damned if you don't. That's pretty much Haldane's take here. But at least he is opening the door to the possibility of the BOE looking towards a quicker development in the inflation backdrop.

Further Development

Exchange Rates 26.02.2021 analysis

Analyzing the current trading chart of Gold, I found that Gold tested our first downside target at $1,765 but there is still strong downside pressure and potential for testing of my second target.

Key Levels:

Resistance: $1,765

Support levels: $1,7

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

Petar Jacimovic,
Analytical expert
InstaForex Group © 2007-2021
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Can't speak right now?
Ask your question in the chat.