GOLD completes the trading week near the 1343 area. The XAU/USD quotes continue to move as part of strong growth. Moving averages indicate a bullish trend. At the moment, we should expect an attempt to continue the correction and a test of the support level near the 1305 area. Further, the GOLD price will continue to rise with a potential target above the level of 1395.
GOLD Price Forecast and Analysis June 10 — 14, 2019
In favor of the rise of quotations and prices for GOLD in the current trading week of 10 — 14, 2019 a test of the rising trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the growth option of XAU/USD quotes will be the fall and the breakdown of the 1265 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 the level of 1215. The breakdown of the resistance area and closing above the level of 1385 will confirm the growth development.
GOLD Price Forecast and Analysis June 10 — 14, 2019 suggests an attempt to test the support level near the 1305 area. Then, the GOLD price will continue to rise with a target above the level of 1395. A test of the trend line on the relative strength index (RSI) will be in favor of raising the quotes. Cancellation of the growth of GOLD will fall and the breakdown level of 1265. This will indicate a continued decline in quotations in the area below the level of 1215.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
