XAU/USD forecast & technical analysis May 24, 2018


Quotes of GOLD continue to move within the correction. At this point, we should expect an attempt to test the resistance level near area 1305. Where can we expect a rebound and the continuation of the fall in the price of GOLD with a target below the level of 1260.

XAU/USD forecast & technical analysis May 24, 2018

In favor of falling quotations XAU/USD will test the trend line on the indicator of relative strength, as well as test the upper boundary of the bearish channel. The reversal of the decline in GOLD prices will be a strong growth and breakdown of the area of ​​1315, which will indicate the breakdown of the upper boundary of the bearish channel and the continuation of growth in the area above the level of 1355. To expect confirmation of the fall in quotations XAU/USD stands with the breakdown of the support area and closing below the level of 1280.

XAU/USD forecast & technical analysis May 24, 2018

XAU/USD forecast & technical analysis May 24, 2018 suggests an attempt to test the resistance area near the level of 1300 and the continuation of the fall in quotations below the level of 1260, the cancellation of the variant of falling prices for GOLD will break through the level of 1315, in this case it is expected to continue growing in the area above the level of 1355.


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