GOLD XAU/USD close the trading week near the area of 1222. Quotes continue to move in a downward. At the moment, we should expect the test of the upper border of the channel near the area of 1235 and the continuation of the fall in the price of GOLD below the level of 1160.
XAU/USD weekly forecast & analysis July 23 — 27, 2018
In favor of falling quotations and prices for GOLD will perform a downtrend test on the indicator of relative strength index (RIS), as well as a test of the lower boundary of the bullish channel. The cancellation of the fall in XAU/USD quotations will result in a strong growth and breakdown of the 1260 area, which will indicate the breakdown of the resistance area and the continued rise in GOLD prices with a target above 1305. A bearish trend will be confirmed by the breakdown of the lower bound of the «Triangle» and closing below 1230 .
XAU/USD weekly forecast & analysis July 23 — 27, 2018 suggests an attempt to test the resistance level near the 1235 area and the continuation of the fall in gold prices with a target below the level of 1160, in favor of the fall will perform a trend line test on the relative strength index (RIS).
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