Quotes of Gold XAU/USD continue to move within the limits of the decline. At the moment, we should expect a test of the upper boundary of the bearish channel near the level of 1285, and further continue falling of quotations below the level of 1245.
XAU/USD prediction & technical analysis on October 10, 2017
In favor of falling quotations XAU/USD will test the resistance area on the indicator of relative strength. Expect the acceleration of the fall of the XAU/USD with a breakdown of the level of 1275. The cancellation of the variant of the fall in the price of GOLD will be the breakdown of the area of 1295, which will indicate the breakdown of the upper border of the channel and the continuation of the price increase for XAU/USD Gold above the level of 1320.
XAU/USD prediction & technical analysis on October 10, 2017 assumes a rebound attempt from the upper border of the channel and a drop below the level of 1245 within the rebound from the upper border of the channel, an additional signal in favor of the fall will come from the bearish trendline test on the relative strength indicator (RSI).
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