Quotes of GOLD XAU/USD continue to move within the limits of growth. At this point, we should expect an attempt to test the lower border of the channel near the level of 1330, from which we should expect a rebound and continue the growth of the price of GOLD with a target above the level of 1360.
XAU/USD forecast & technical analysis January 16, 2018
In favor of the growth of quotations XAU/USD will test the trend line on the indicator of relative strength index (RSI). Cancellation of the variant of gold price growth will be the fall and breakdown of the area 1320, which will indicate the breakdown of the lower boundary of the rising channel and the continuation of the fall into the area below the level of 1305. Expect to accelerate the growth of XAU/USD with a breakdown at level 1345.
XAU/USD forecast & technical analysis January 16, 2018 presupposes an attempt to test the level of 1330 and the continuation of the growth of quotations with the target above the level of 1360, the cancellation of the variant of the growth of the prices for GOLD will be reached by breakdown at the level of 1320.
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