GOLD continue to move as part of the fall and have broken through the lower limit of the bullish channel. At the time of the publication of the forecast, the price of Gold is 1891 Dollars per Troy Ounce. Moving averages indicate the presence of a short-term bullish trend. Prices have broken through the area between the signal lines down, which indicates pressure from sellers of the asset and a potential continuation of growth already from current levels. At the moment, we should expect an attempt to develop growth and test the resistance level near the 1920 area. Where should we expect a rebound down and a continuation of the fall in the price of Gold with a potential target below the level of 1775.
XAU/USD Forecast and GOLD analysis March 30, 2022
An additional signal in favor of falling XAU/USD quotes will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the Head and Shoulders reversal pattern. Cancellation of the option of falling prices for Gold on March 30, 2022 will be a strong growth and a breakdown of the level of 1975. This will indicate a breakdown of the resistance area and continued growth to the area above the level of 2045. Expect an acceleration in the fall of XAU/USD quotes with a breakdown of the support area and closing the price below the level of 1875.
XAU/USD Forecast and GOLD analysis March 30, 2022 suggests an attempt to test the resistance area near the level of 1915. Further, the quotes continue to fall with a target below the level of 1775. 1975. This will indicate a breakdown of the resistance area for Gold. In this case, we should expect continued growth in the price of Gold with a potential target above the level of 2045.
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