GOLD XAU/USD close the trading week near the area of 1255. Quotes continue to move in a bearish trend. At the moment, 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 1190.
XAU/USD weekly forecast July 9 — 13, 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 1285 area, which will indicate the breakdown of the resistance area and the continued rise in GOLD prices with a target above the level of 1315. A breakdown of the support area and closing below the level of 1240 will confirm the development of a downward trend.
XAU/USD weekly forecast July 9 — 13, 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 1190, in favor of the fall will perform a trend line test on the relative strength index (RSI).