Quotes Gold XAU/USD continue to move within the growth framework. At the moment, we should expect a test of the lower limit of the «Wedge» model, where again we should expect a rebound and growth of quotations and GOLD prices above the level of 1355.
XAU/USD forecast & technical analysis on September 7, 2017
In favor of the growth of XAU/USD quotations, a support line test will be performed on the relative strength indicator (RSI). Expect the acceleration of growth is with the breakdown of the level of 1340. The abolition of the variant of the growth of the price for GOLD will be the breakdown of the area of 1325, which will indicate the outflow of quotes outside the «Wedge» model and the continuation of the decline in XAU/USD for the price below the area of 1270.
XAU/USD forecast & technical analysis on September 7, 2017 assumes an attempt to test the support level near the area of 1325, where the rebound and the rise in prices for Gold above the level of 1355 are expected, an additional signal in favor of the growth of the GOLD price will be a test of the trend line on the indicator relative strength (RSI), cancellation will break through the lower boundary of the «Wedge» model.