Quotes of GOLD continue to move within the framework of correction and formation of the «Triangle» model. At this point, we should expect an attempt to test the lower border of the channel near the level of 1340. Where can we expect a rebound and the continued growth in the price of gold with a target above the level of 1365.
XAU/USD forecast & technical analysis April 19, 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). Canceling the variant of the price increase for Gold will be the fall and breakdown of the 1330 area, which will indicate the breakdown of the lower border of the channel and the continuation of the fall below 1300. To expect confirmation of the growth of XAU/USD quotes stands with the breakdown of the upper limit of the Triangle and closing above the level of 1350.
XAU/USD forecast & technical analysis April 19, 2018 suggests an attempt to test the support area near the level of 1340 and the continuation of the growth of quotations with a target above the level of 1365, the abolition of the variant of the price increase for GOLD will break through the level of 1330, in which case it is expected to continue falling in the area below the level of 1300.
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