Quotes of GOLD continue to move in a bearish trend. At this point, we should expect an attempt at a resistance level near the area of 1250. Where can we expect a rebound and the continuation of the fall in the price of GOLD with a target below the level of 1225.
XAU/USD forecast & technical analysis July 3, 2018
In favor of falling quotations XAU/USD will perform a test of a broken trend line on the indicator of relative strength index (RSI). The reversal of the decline in the price of GOLD will be a strong growth and breakdown of the 1260 area, which will indicate the breakdown of the upper bound of the bearish one and the continuation of growth to the level above the level of 1275. To expect confirmation of the fall in quotes XAU/USD stands with the breakdown of the support area and closing below the level of 1235.
XAU/USD forecast & technical analysis July 3, 2018 suggests an attempt to test the resistance area near the level of 1250 and the continuation of the fall in quotations below the level of 1225, the cancellation of the drop in GOLD prices will trigger a breakdown at level 1260, in which case it is expected to continue growing in the area above the level of 1275.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
