GOLD completes the trading week near the area of 1408. The XAU/USD quotes continue to move as part of the correction. Moving averages indicate a bullish trend. At the moment, we should expect an attempt to fall and a test of the support level near the 1355 area. Further, the Gold price will continue to rise with a potential target above the 1495 level.
GOLD Price Forecast and Analysis July 15 — 19, 2019
In favor of the rise of quotations and prices for GOLD in the current trading week from July 15 — 19, 2019, a test of the rising trend line on the relative strength indicator will be made. The second signal will be a rebound from the lower boundary of the rising channel. The decline in the XAU/USD growth option will be canceled by the fall and the breakdown of the 1310 area. This will indicate the breakdown of the lower boundary of the channel and the continuation of the fall in GOLD prices with the target below 1255. The breakdown of the resistance area and closing above the 1435 level will confirm the growth development.
GOLD Price Forecast and Analysis July 15 — 19, 2019 implies an attempt to test the support level near the 1355 area. Then, the GOLD price will continue to rise with a target higher than the 1495 level. A test of the trend line on the relative strength indicator will be in favor of raising the quotes. Cancellation of the growth of gold will fall and the breakdown of the level of 1310. This will indicate a continued decline in quotations in the area below the level of 1255.