Quotes of GOLD continue to move within the limits of the decline. At the time of publication of the forecast, the price of GOLD is 1242 Dollars per ounce. At this point, we should expect an attempt to test the resistance level near the area of 1245. Where can we expect a rebound and continue falling prices for GOLD with a target below the level of 1225.
XAU/USD forecast GOLD & analysis July 17, 2018
In favor of falling quotations XAU/USD will test the resistance area on the indicator of relative strength index (RSI). Canceling the variant of falling prices for GOLD will be a strong growth and breakdown of the area of 1255, which will indicate the breakdown of the upper border of the channel and the continuation of growth in the area above the level of 1265. Expect the acceleration of the fall in quotations XAU/USD stands with the breakdown of the support area and closing below the level of 1235.
XAU/USD forecast & technical analysis July 17, 2018 suggests an attempt to test the resistance area near the level of 1245 and the continuation of the fall of quotations below the level of 1225, the cancellation of the variant of falling prices for GOLD will break through the level of 1255, which will indicate the quotes outflow channel, in this case it is necessary to expect the continuation of growth in the area above the level of 1265.
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