Quotes of GOLD continue to move within the correction. At this point, we should expect an attempt to test the lower border of the channel near the level of 1330. Where can we expect a rebound and the continued growth in the price of gold with a target above the level of 1370.
XAU/USD forecast & technical analysis April 17, 2018
In favor of the growth of quotations XAU/USD will perform a test of the support line on the indicator of relative strength index (RSI). Cancellation of the variant of the price increase for Gold will be the fall and breakdown of the 1320 area, which will indicate the breakdown of the lower border of the channel and the continuation of the fall into the area below the level of 1300. To expect confirmation of the growth of quotations XAU/USD stands with the breakdown of the resistance area and the closing above the level of 1350.
XAU/USD forecast & technical analysis April 17, 2018 suggests an attempt to test the support area near the level of 1330 and the continuation of the growth of quotations above the level of 1370, the cancellation of the variant of the growth in the prices for GOLD will break through the level of 1320, in which case it is expected to continue falling in the area below the level of 1300.
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