GOLD XAU/USD close the trading week near the area of 1206. Quotes continue to move within the bearish trend. At this point, we should expect a correction attempt and a support level test near the area of 1180. Then the price of GOLD began to grow with a potential target above the level of 1235.
GOLD weekly forecast & analysis September 3 — 7, 2018
In favor of the growth of quotations and prices for GOLD on the current trading week of September 3 — 7, 2018, a test of a broken trend line will appear on the indicator of relative strength index (RSI). The cancellation of the variant of XAU/USD quotes growth will be the fall and breakdown of the 1155 area, which will indicate the breakdown of the support area and the continuation of the fall in gold prices with a target below 1105. A breakdown of the resistance area and closing above the level of 1215 will confirm the growth.
GOLD weekly forecast & analysis September 3 — 7, 2018 suggests an attempt to test the level of support near the area of 1180 and the continuation of the growth of prices for GOLD with a target above the level of 1235, in favor of an upswing will test the trend line on the indicator of relative strength index (RSI), the abolition of the growth option will be a strong fall and breakdown of the area 1155, which indicates the continued drop in quotations in the area below the level of 1105.
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