Quotes of Gold XAU/USD continue to move in the fall, at the moment quotes are testing the area of 1235. It is worth expecting an attempt to rebound and increase the price of Gold in the area above the level of 1245. In favor of growth is a tight test of the lower boundary of the rising channel. Cancellation of the growth of quotations and prices for Gold will be the fall and breakdown of the 1230 area, which will indicate the continuation of the decline to the area below the level of 1200.
XAU/USD Forecast Forex Gold prices on May 5, 2017
With the breakdown of the downward trend line on the indicator of relative strength, we should expect the growth of quotations XAU/USD.
XAU/USD Forecast Forex Gold prices on May 5, 2017 suggests a rebound attempt from the lower boundary of the rising channel with the potential growth target near the area of 1245, the cancellation will be the breakdown of the area 1230.
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