GOLD completes the trading week near the 1355 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 test the support level near the 1315 area. Further, the GOLD price will continue to rise with a potential target above the 1425 level.
GOLD Price Forecast and Analysis June 17 — 21, 2019
In favor of the rise of quotations and prices for GOLD in the current trading week on June 17 — 21, 2019, a test of an uptrend trend 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 made by the fall and breakdown of the 1265 area. This will indicate the breakdown of the lower border 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 1375 will confirm the growth.
GOLD Price Forecast and Analysis June 17 — 21, 2019 implies an attempt to test the support level near the 1315 area. Then, the GOLD price will continue to rise with a target above the level of 1425. The trend line test 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.