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 1265. Whence we should expect a rebound and the continuation of the fall in the price of GOLD with a target below the level of 1210.
XAU/USD forecast & technical analysis July 4, 2018
In favor of falling quotations XAU/USD will come the test of the downward trend line on the indicator of relative strength index (RSI). Abolishing the variant of falling prices for Gold will be a strong growth and breakdown of the 1270 area, which will indicate the breakdown of the upper bound of the descending one and the continuation of growth to the level above the level of 1295. 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 4, 2018 suggests an attempt to test the resistance area near the level of 1265 and the continuation of the drop in quotations below the level of 1210, the cancellation of the variant of falling prices for GOLD will break through the level of 1270, in which case it is expected to continue growing in the area above the level of 1295.
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