Quotes of GOLD continue to move within the framework of an upward correction. At the time of publication of the forecast, the Gold price is 1193 dollars for the Troy Ounce. At this point, we should expect an attempt to test the resistance level near the area of 1200. Where can we expect a rebound and the continuation of the fall in the price of gold with a target below the level of 1145.
XAU/USD forecast GOLD & analysis August 22, 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 descending channel. Abolishing the variant of falling prices for GOLD will be a strong growth and breakdown of the region 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 quotes XAU/USD is with the breakdown of the support area and the closing below the level of 1185.
XAU/USD forecast GOLD & analysis August 22, 2018 suggests an attempt to test the resistance area near the level of 1200 and the continuation of the fall of quotations to below the level of 1145, the cancellation of the variant of falling prices for GOLD will break through the level of 1205, which will indicate the quotes outflow down channel, in this case we should expect the continuation of growth in the area above the level of 1245.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
