GOLD Price Forecast and Analysis September 2 — 6, 2019


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GOLD completes the trading week near the area of ​​1524. XAU/USD quotes continue to move as part of the growth and upward channel. Moving averages indicate a bullish trend. At the moment, we should expect an attempt to reduce and test the support level near the area of ​​1435. Further, the continuation of the growth in the price of GOLD with a potential target above the level of 1655.

GOLD Price Forecast and Analysis September 2 — 6, 2019

In favor of the rise in quotations and GOLD prices in the current trading week September 2 — 6, 2019, a test of the ascending trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the growth option for XAU/USD quotes will be a fall and a breakdown of the 1375 area. This will indicate a breakdown of the lower border of the channel and a continued fall in the price of Gold with a target below the level of 1305. A confirmation of the development of growth will be a breakdown of the resistance area and closing above the level of 1565.

GOLD Price Forecast and Analysis September 2 — 6, 2019

GOLD Price Forecast and Analysis September 2 — 6, 2019 suggests an attempt to test the support level near the area of ​​1435. Then, the continuation of the growth of prices for Gold with the target above the level of 1655. A trend line test on the relative strength index (RSI) will be in favor of raising the quotes. Cancellation of the GOLD growth option will be a fall and a breakdown of the level of 1375. This will indicate a continued decline in quotations to the area below the level of 1305.


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