GOLD XAU/USD close the trading week near the area of 1250. Quotes continue to move in a bearish trend. At this point, we should expect a test of the upper border of the channel near the area of 1270 and the continuation of the fall in the price of Gold below the level of 1195.
XAU/USD weekly forecast July 2 — 6, 2018
In favor of falling quotations and prices for GOLD will perform a downtrend test of the trend on the indicator of relative strength index (RSI). The cancellation of the fall in XAU/USD quotations will result in a strong growth and breakdown of the 1300 area, which will indicate the breakdown of the resistance area and the continued rise in GOLD prices with a target above the level of 1355. A breakdown of the support area and closing below level 1245 will confirm the development of a bearish trend.
XAU/USD weekly forecast July 2 — 6, 2018 suggests a test of the resistance level near the 1270 area and the continuation of the fall in GOLD prices with a target below the level of 1245, in favor of the drop, a trend line test will be performed on the relative strength index (RSI).
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