GOLD XAU/USD close the trading week near the area of 1345. Quotes continue to move within the bullish channel. At the moment, we should expect a test of the support level near the area of 1325 and the continuation of growth above the level of 1395.
XAU/USD weekly forecast April 16 — 20, 2018
In favor of the growth of quotations and prices for GOLD will perform a test of the support line on the indicator of relative strength index (RSI). Cancellation of the growth scenario for XAU/USD will be the fall and breakdown of the 1295 area, which will indicate the breakdown of the lower limit of the «Triangle» model and the continuation of the fall in gold prices with a target below the level of 1250. A confirmation of the growth in the price of GOLD in the current trading week will be a breakdown of the upper limit of the «Triangle» and closing above area 1360.
XAU/USD weekly forecast April 16 — 20, 2018 suggests an attempt to test the lower «Triangle» model near the 1325 area and the start of a rise in GOLD prices with a target above the level of 1395, in favor of growth, a trendline test will be performed on the relative strength index (RSI), the cancellation of the growth option of GOLD will be a breakdown of the level of 1295, indicating that the fall continues to fall below 1250.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
