Quotes of GOLD continue to move in the framework of the decline and start of the Triangle model. At the time of the publication of the forecast, the price of GOLD is 1192 Dollars per Troy Oz. At the moment, we should expect an attempt to test the resistance level near the area of 1195. Where should we expect a rebound and continue the decline in the price of Gold with the goal below the level of 1165.
XAU/USD forecast GOLD & analysis October 3, 2018
A test of the trend line on the relative strength index (RSI), as well as a rebound from the lower limit of the «Triangle» model, will be in favor of the XAU/USD quotes drop. Cancellation of the option of falling GOLD prices will be a strong growth and the breakdown of the area of 1210, which will indicate a breakdown of the resistance area and continued growth in the area above the level of 1245. Expect confirmation of falling quotes XAU/USD stands with the breakdown of the support area and closing below the level of 1180.
XAU/USD forecast GOLD & analysis October 3, 2018 suggests an attempt to test the resistance area near the 1195 level and continue the fall in quotations with a target below the 1165 level, canceling the price cut option for GOLD will make a strong growth and a breakdown of the 1210 level, which will indicate a breakdown resistance, in this case, we should expect continued growth of gold above the level of 1245.
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