Quotes of GOLD continue to move in the framework of the fall and the downward channel. At the time of the publication of the forecast, the price of GOLD is 1276 Dollars per Troy Oz. At the moment, we should expect an attempt to rise and test the resistance level near the area of 1285. Where should we expect a rebound and the continuation of the fall in the price of GOLD with the goal below the level of 1255.
XAU/USD Forecast and GOLD analysis April 18, 2019
In favor of reducing the XAU/USD quotes, a test of the trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the option of falling gold prices will be a strong growth and a breakdown of 1295. This will indicate a breakdown of the upper boundary of the channel and continued growth to the area above the level of 1305. Expect the acceleration of falling quotes XAU/USD stands with the breakdown of the lower limit of the downward channel and closing below 1265.
XAU/USD Forecast and GOLD analysis April 18, 2019 implies an attempt to test the resistance area near the level of 1285. Further, the continuation of the fall in quotations with a target below the level of 1255. Cancellation of the option of falling gold prices will be a strong increase and a breakdown of the level of 1295. This will indicate on the breakdown of the upper boundary of the model «Triangle». In this case, it is worth expecting the continuation of the rise of Gold above the level of 1305.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
