Quotes Gold XAU/USD close the trading week in the vicinity of the area of 1263. It is worth to expect an attempt to grow the pair in the area above the level of 1280 as part of the formation of the right shoulder of the reversal forex pattern «Head and Shoulders».
XAU/USD forecast on May 29, 2017 — June 2, 2017
Where can we expect the beginning of the fall of quotations XAU/USD. The closest target of the decline is the area at the level of 1223. In favor of falling quotations and prices for gold will perform a tight test of the downward trend line on the indicator of relative strength.
Cancellation of the variant of the fall in XAU/USD quotations will be the breakdown of the local maximum area, which will indicate the continued growth of Gold. Expect to accelerate the fall is with the breakdown of the area 1220, which indicates the breakdown of the neckline reversal pattern.
XAU/USD forecast on May 29, 2017 — June 2, 2017 assumes an attempt to test the level of 1280 and complete the formation of the reversal forex pattern «Head and Shoulders», which will indicate that the quotations will continue to fall below the level of 1223, the cancellation of Gold’s fall will be the breakdown of the local maximum area.
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