Quotes of GOLD continue to move in growth. At the time of the publication of the forecast, the price of GOLD is 1300 Dollars per Troy Oz. At the moment, we should expect an attempt to fall and a test of the support level near the area of 1290. Where should we expect a rebound and continued growth in the price of GOLD with the target above the level of 1325.
XAU/USD Forecast and GOLD analysis January 29, 2019
In favor of the fall in XAU/USD quotes, a test of a broken trend line on the relative strength index (RSI) will be made. As well as a rebound from the upper boundary of the descending channel. Cancellation of the option of rising GOLD prices will fall and the breakdown of 1275. This will indicate the breakdown of the support area and the continuation of falling into the area below 1245. Expect acceleration of the growth of XAU/USD quotes with the breakdown of the area of resistance and closure above 1315.
XAU/USD Forecast and GOLD analysis January 29, 2019 implies an attempt to test the support area near the level of 1290. Further, the growth of quotations with a target above the level of 1325 will continue. Cancellation of the price increase for GOLD prices will fall and a breakdown of the level of 1275 breakdown of the support area. In this case, we should expect the continuation of the fall of GOLD below the level of 1245.
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