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 upper limit of the model near the level of 1350. Where can we expect a rebound and the continuation of the fall in the price of GOLD with a target below the level of 1325.
XAU/USD forecast & technical analysis April 20, 2018
In favor of falling quotations XAU/USD will form a reversal model «Head and Shoulders» on the indicator of relative strength index (RSI). Abolishing the variant of the fall in the price of Gold will be a strong growth and breakdown of the area of 1365, which will indicate the breakdown of the upper limit of the «Triangle» model and the continuation of growth in the area above the level of 1395. To wait for confirmation of the fall of XAU/USD quotes stands with the breakdown of the lower bound of the «Triangle» model and closing below level 1315.
XAU/USD forecast & technical analysis April 20, 2018 suggests an attempt to test the resistance area near the level of 1350 and the continuation of the fall in quotations below the level of 1325, the cancellation of the fall in the price of GOLD will break through the level of 1365, in which case it is expected to continue growing in the area above the level of 1395.
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