Gold Quotes XAU/USD continue to move in the framework of the formation of the head and shoulders reversal pattern. At the moment, Gold quotes are testing the area of formation of the right shoulder. It is worth waiting for an attempt to fall.
XAU/USD forecast & technical analysis on May 30, 2017
In favor of the decline in quotations is the test of the upper boundary of the bearish forex pattern «5-0». The purpose of the fall of this model is the area below the level of 1220. The cancellation of the variant of falling quotations and prices for Gold will be the breakdown of the area of 1275, which will indicate the continuation of growth above the level of 1280.
XAU/USD forecast & technical analysis on May 30, 2017 suggests a rebound attempt from the upper boundary of the downlink with a potential reduction target at a level below the 1220 area, the cancellation will be the breakdown of the 1275 area, which will indicate the test of the area 1280.
