Quotes of GOLD continue to move within the fall and bearish channel. At the time of publication of the forecast, the GOLD price is 1247. At this point, we should expect an attempt to test the resistance level near the area of 1260. Whence we should expect a rebound and continue the fall in the price of GOLD with a target below the level of 1225.
XAU/USD forecast & technical analysis July 11, 2018
In favor of falling quotations XAU/USD will test the resistance area on the indicator of relative strength index (RSI). The reversal of the decline in GOLD prices will be a strong growth and breakdown of the 1275 area, which will indicate the breakdown of the upper border of the channel and the continuation of growth in the area above the level of 1295. To expect confirmation of the fall in quotations XAU/USD stands with the breakdown of the support area and closing below the level of 1235.
XAU/USD forecast & technical analysis July 11, 2018 suggests an attempt to test the resistance area near the level of 1260 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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