GOLD XAU/USD close the trading week near the area of 1313. Quotes continue to move within the correction. At the moment, we should expect a test of the support level near the area of 1300 and the continuation of the growth above the level of 1395 as part of the start of the development of the bullish model «5-0».
XAU/USD weekly forecast on February 12 — 16, 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 variant of XAU/USD quotations growth will be the fall and breakdown of the 1285 area, which will indicate the breakdown of the channel boundary engineering and the continuation of the fall in GOLD prices with a target below the level of 1260.
XAU/USD weekly forecast on February 12 — 16, 2018 suggests a test of the support level near the 1300 area and the beginning of a rise in GOLD prices with a target above the level of 1395, in favor of growth, a trend line test will be performed on the relative strength index (RSI), there will be a breakdown at level 1285, which indicates the continuation of the fall.
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