GOLD continue to move as part of the growth and the bullish channel. At the time of the publication of the forecast, the price of GOLD is 1823 Dollars per Troy Oz. Moving averages indicate a short-term bullish trend. Prices broke through the area between the signal lines upward, which indicates pressure from buyers of the asset and a potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a decline and test the support level near the 1805 area. Where can we expect a rebound upward and continued growth in the price of GOLD with a potential target above the level of 1875.
XAU/USD Forecast and GOLD analysis January 13, 2022
An additional signal in favor of raising the XAU/USD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the growth option for GOLD prices on January 13, 2022 will be a fall and a breakdown of the level of 1785. This will indicate a breakdown of the support area and a continued fall to the area below the level of 1745. Expect an acceleration of the rise in XAU/USD quotes with the breakdown of the resistance area and closing of the price above the level of 1835.
XAU/USD Forecast and GOLD analysis January 13, 2022 implies an attempt to test the support area near the level of 1805. Further, the growth of quotations with a target above the level of 1875 will continue. This will indicate a breakdown of the support area for Gold. In this case, we should expect a continued decline in the price of GOLD with a potential target below the level of 1745.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link