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 1315. Where can we expect a rebound and the continued growth in the price of GOLD for a target above the level of 1365, as part of the start of the inverted «Head and Shoulders» model. In favor of falling quotations XAU/USD will test the resistance line on the indicator of relative strength index (RSI).
XAU/USD forecast & technical analysis March 7, 2018
Cancellation of the variant of the Gold price increase will be the fall and breakdown of the 1300 area, which will indicate the breakdown of the support area and the continuation of the fall into the area below the level of 1250. 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 1335.
XAU/USD forecast & technical analysis March 7, 2018 assumes an attempt to test the support level near the area of 1315 and the continuation of the growth of quotations above the level of 1365, the cancellation of the variant of the growth in the prices for GOLD will break through the level of 1300, in this case, area below level 1250.
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