Quotes of GOLD continue to move within the framework of the formation of the «Triangle» model. At the time of publication of the forecast, the Gold price is 1195 dollars for the Troy Ounce. At this point, we should expect an attempt to test the resistance level near the area of 1205. Where can we expect a rebound and the continuation of the fall in the price of gold with a target below the level of 1165.
XAU/USD forecast GOLD & analysis September 11, 2018
In favor of falling quotations XAU/USD will test the resistance area on the indicator of relative strength index (RSI), as well as a rebound from the upper limit of the model «Triangle». Canceling the option of falling prices for GOLD will be a strong growth and breakdown of the region 1215, which will indicate the breakdown of the resistance area and the continuation of growth in the area above the level of 1245. To expect confirmation of the fall in quotations XAU/USD stands with the breakdown of the lower bound of the «Triangle» and closing below level 1187.
XAU/USD forecast GOLD & analysis September 11, 2018 suggests an attempt to test the resistance area near the level of 1205 and the continuation of the fall in quotations below the level of 1165, the cancellation of the variant of the fall in GOLD prices will trigger a breakdown at level 1215, which will indicate a breakdown of the resistance level, in this case, we should expect the continuation of GOLD growth above the level of 1245.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
