Quotes of GOLD continue to move in the bullish correction. At the time of publication of the forecast, the Gold price is 1256 US Dollars. 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 5, 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). Canceling the option of falling prices for Gold will be a strong growth and breakdown of the area of 1280, which will indicate the breakdown of the upper bound of the descending one and the continuation of growth in the area 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 5, 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 the drop in gold prices will trigger a breakdown at level 1280, in which case it is necessary to expect further growth in the area above the level of 1295.
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