XAU/USD forecast & technical analysis January 9, 2018


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Quotes of GOLD XAU/USD continue to move within the limits of growth. At this point, we should expect an attempt to test the level of 1320 and the beginning of the fall in the price of gold below the level of 1295. In favor of falling quotations XAU/USD is the formation of the reversal model «Failure Swing» on the indicator of relative strength index (RSI).

XAU/USD forecast & technical analysis January 9, 2018

The reversal of the decline in the price of GOLD will be a strong increase in the breakdown of the area of ​​1330, which indicates that the growth will continue to the level above the level of 1345. Expect to accelerate the fall of XAU/USD with a breakdown of the channel’s lower boundary and closing below the level of 1310.

XAU/USD forecast & technical analysis January 9, 2018

XAU/USD forecast & technical analysis January 9, 2018 involves an attempt to test the level of 1320 and the continuation of the drop in quotations below the level of 1295, the cancellation of the decline in the price of GOLD will be a breakthrough at level 1330.

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