Quotes of GOLD continue to move within a correction. At this point, we should expect an attempt to test the upper limit of the «Triangle» model near the area of 1300. From which point one should expect a rebound and the continued growth in the price of Gold with a target above the level of 1325.
XAU/USD forecast & technical analysis June 15, 2018
In favor of price increase XAU/USD will test the trend line on the indicator of relative strength index (RSI). Canceling the variant of the price increase for Gold will be the fall and breakdown of the 1290 area, which will indicate the breakdown of the lower limit of the Triangle model and the continuation of the fall into the area below the level of 1265. To expect confirmation of the growth of XAU/USD quotes stands with the breakdown of the upper limit of the descending channel and the closing above the level 1310.
XAU/USD forecast & technical analysis June 15, 2018 suggests an attempt to test the support area near the level of 1300 and the continuation of the growth of quotations for a target above the level of 1325 as part of the «Triangle» model development, the elimination of the GOLD price growth scenario will trigger a breakdown at level 1290, in this case, we should expect the continuation of the fall in the area below the level of 1265.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
