GOLD XAU/USD close the trading week near the area of 1280. Quotes continue to move within the framework of the formation of the «Triangle» model. At the moment, we should expect a test of the lower boundary of the model near the level of 1265 and the continuation of growth above the level of 1295.
XAU/USD weekly forecast on on December 4 — 8, 2017
In favor of the growth of quotations and prices for GOLD, a test of the support line on the indicator of relative strength index (RSI) will perform. Cancellation of the growth scenario for XAU/USD will be the fall and breakdown of the 1245 area, which will indicate the outflow of the quotes out of the model and the continuation of the fall in gold prices with a target below the level of 1235. Expect to accelerate growth with the breakdown of the upper bound of the «Triangle» and closing above the level 1305.
XAU/USD weekly forecast on on December 4 — 8, 2017 assumes a test of the lower limit of the «Triangle» model and the continuation of the price increase for GOLD above the level of 1295, in favor of growth, a trend line test will be performed on the relative strength index (RSI).
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
