XAU/USD Forecast and GOLD analysis January 15, 2020


GOLD continue to move as part of the growth and upward channel. At the time of the publication of the forecast, the price of GOLD is 1542 Dollars per Troy Oz. Moving averages indicate a short-term bullish trend. At the moment, we should expect an attempt to fall and test the support level near the area of ​​1525. Where can we expect a rebound and continued growth in the price of GOLD with a target above the level of 1615.

XAU/USD Forecast and GOLD analysis January 15, 2020

An additional signal in favor of the growth of XAU/USD quotes will be an uptrend line test on the relative strength index (RSI). The second signal in favor of a rise in GOLD prices will be a rebound from the upper border of the bearish channel. Cancellation of the option of rising GOLD prices on January 15, 2020 will be a fall and a breakdown of the level of 1495. This will indicate a breakdown of the support area and a continued fall to the area below the level of 1465. Expect acceleration of the growth of XAU/USD quotes with the breakdown of the resistance area and closing above 1565.

XAU/USD Forecast and GOLD analysis January 15, 2020

XAU/USD Forecast and GOLD analysis January 15, 2020 suggests an attempt to test the support area near the level of 1525. Further, continued growth of quotations with the target above the level of 1615. Cancellation of the option to raise gold prices will be a fall and a breakdown of the level of 1495. This will indicate breakdown of the support area. In this case, we should expect continued decline in GOLD below the level of 1465.


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