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 1270. Where can we expect a rebound and the continuation of the fall in the price of GOLD for a target below the level of 1250.
XAU/USD forecast & technical analysis June 22, 2018
In favor of falling quotations XAU/USD will test the resistance line on the indicator of relative strength index (RSI). Cancellation of the variant of the growth in the price of GOLD will be a strong growth and breakdown of the 1275 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 1290. To expect confirmation of the fall in quotes XAU/USD stands with the breakdown of the support area and closing below the level of 1260.
XAU/USD forecast & technical analysis June 22, 2018 suggests an attempt to test the resistance area near the level of 1270 and the continuation of the drop in quotations below the level of 1250, the cancellation of the variant of the fall in GOLD prices will trigger a breakdown of the level of 1275, in which case it is expected to continue growing in the area above the level of 1290.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
