Quotes of GOLD continue to move within the bearish channel. At the time of publication of the forecast, the GOLD price is 1188 Dollars for the Troy Ounce. At this point, we should expect an attempt to test the resistance level near the area of 1195. Where can we expect a rebound and the continuation of the fall in the price of GOLD for a target below the level of 1135.
XAU/USD forecast GOLD & analysis August 21, 2018
In favor of falling quotations XAU/USD will test the resistance line on the indicator of relative strength index (RSI), as well as rebound from the upper boundary of the bearish channel. The cancellation of the decline in GOLD prices will result in a strong growth and breakdown of the area 1205, which will indicate the breakdown of the upper border of the channel and the continuation of growth to the level above the level of 1245. Expect the acceleration of the fall in the quotations XAU/USD stands with the breakdown of the support area and the closing below the level of 1165.
XAU/USD forecast GOLD & analysis August 21, 2018 suggests an attempt to test the resistance area near the level of 1195 and the continuation of the fall in quotations below the level of 1135, the cancellation of the drop in GOLD prices will trigger a breakdown at level 1205, indicating that the quotes are out of bounds down channel, in this case we should expect the continuation of growth in the area above the level of 1245.
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