Quotes of GOLD continue to move within the framework of a bullish correction. At the time of publication of the forecast, the GOLD price is 1265 US dollars. At the moment, we should expect an attempt to test the upper limit of the «Wolfe Wave» model near the area of 1270. Where can we expect a rebound and the continuation of the fall in the price of gold with a target below the level of 1245.
XAU/USD forecast & technical analysis July 10, 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 the price of GOLD will result in a strong growth and breakdown of the 1275 area, which will indicate the breakdown of the upper bound of the«Wolfe Wave» model and the continuation of growth to the level above the level of 1295. It is worth waiting for confirmation of the fall in XAU/USD quotations with the breakdown of the support area and closing below the level 1255.
XAU/USD forecast & technical analysis July 10, 2018 suggests an attempt to test the resistance area near the level of 1270 and the continuation of the fall in quotations below the level of 1245, the cancellation of the variant of falling prices for GOLD will break through the level of 1275, in this case, in the area above the level of 1295.
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