Quotes of GOLD continue to move within the bearish channel. At the time of publication of the forecast, the GOLD price is 1229 dollars per ounce. At this point, we should expect an attempt to test the resistance level near the area of 1235. Whence we should expect a rebound and continue the fall in the price of GOLD with a target below the level of 1205.
XAU/USD forecast GOLD & analysis July 26, 2018
In favor of falling quotations XAU/USD will test the resistance line on the indicator of relative strength index (RSI), as well as the formation of the reversal model «Head and Shoulders» on the price chart. Cancellation of the variant of falling prices for GOLD will be a strong growth and breakdown of the 1245 area, 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 is with the breakdown of the support area and the closure below the level of 1215.
XAU/USD forecast GOLD & analysis July 26, 2018 suggests an attempt to test the resistance area near the level of 1235 and continue falling of quotations to below the level of 1205, the cancellation of the variant of falling prices for GOLD will break through the level of 1245, 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 1265.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
