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 1330. 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 26, 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 1340 area, which will indicate the breakdown of the upper boundary of the bearish channel and the continuation of the growth to the level above the level of 1355. It is worthwhile to wait for confirmation of the fall of XAU/USD quotations with the breakdown of the support area and closing below the level of 1315.
XAU/USD forecast & technical analysis April 26, 2018 suggests an attempt to test the resistance area near the level of 1330 and the continuation of the fall of quotations below the level of 1310, the cancellation of the variant of falling prices for GOLD will break through the level of 1340, in this case it is expected to continue growing in the area above the level of 1355.
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