Quotes of GOLD XAU/USD continue to move within the framework of strong growth. At this point, we should expect an attempt to test the support level near the area of 1320. Where can we expect a rebound and the continued growth in the price of gold with a target above the level of 1365 as part of the development of the «Wedge» model.
XAU/USD forecast & technical analysis March 23, 2018
In favor of the growth of quotations XAU/USD will perform a test of the support line on the indicator of relative strength index (RSI). Cancellation of 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 support area and the continuation of the fall into the area below the level of 1270. To expect confirmation of the growth of XAU/USD prices is with the breakdown of the resistance area and the closing above the level of 1340.
XAU/USD forecast & technical analysis March 23, 2018 assumes an attempt to test the support level near the 1320 area and continue the growth of quotations above the level of 1365, the cancellation of the variant of the price increase for GOLD will be reached by breakdown at the level of 1290, in this case, area below level 1270.
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