Quotes of GOLD continue to move within the correction. At this point, we should expect an attempt to test the resistance level near the area of 1340. Where can we expect a rebound and the continuation of the fall in the price of gold with a target below the level of 1310.
XAU/USD forecast & technical analysis April 25, 2018
In favor of falling quotations XAU/USD will test the resistance area on the indicator of relative strength index (RSI). The cancellation of the decline in GOLD prices will result in a strong growth and breakdown of the area of 1345, which will indicate the breakdown of the upper boundary of the descending channel and the continuation of growth in the area above the level of 1365. To wait for the confirmation of the fall in quotes XAU/USD stands with the breakdown of the support area and closing below the level of 1320.
XAU/USD forecast & technical analysis April 25, 2018 suggests an attempt to test the resistance area near the level of 1345 and the continuation of the fall in quotations below the level of 1310, the cancellation of the fall in the price of GOLD will break through the level of 1345, in which case it is expected to continue growing in the area above the level of 1365.
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