GOLD completes the trading week near the area of 1387. XAU/USD quotes continue to move in the framework of strong growth. Moving averages indicate a bullish trend. Moreover, the quotes went far up from the moving averages area, which indicates strong purchases and pressure from buyers. At the moment, we should expect an attempt to fall and a test of the support level near the area of 1355. Further continuation of the rise in the price of GOLD with a potential target above the level of 1485.
GOLD Price Forecast and Analysis June 24 — 28, 2019
In favor of the rise of quotations and prices for GOLD in the current trading week on June 24 — 28, 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 1295 area. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall in Gold prices with the target below 1245. The breakdown of the resistance area and closing above the 1435 level will confirm the growth.
GOLD Price Forecast and Analysis June 24 — 28, 2019 suggests an attempt to test the support level near the 1355 area. Then, the Gold price will continue to rise with a target above the level of 1485. 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 1295. This will indicate a continued decline in quotations in the area below the level of 1245.