GOLD XAU/USD close the trading week near the area of 1280. 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 1300 and the continuation of the fall in the price of GOLD below the level of 1240.
XAU/USD weekly forecast June 18 — 22, 2018
In favor of falling quotations and prices for GOLD will perform a bearish 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 1320 area, which will indicate the breakdown of the resistance area and the continuation of the price increase for GOLD with a target above the level of 1365. A breakdown of the support area and closing below the level of 1275 will confirm the development of a downward trend.
XAU/USD weekly forecast June 18 — 22, 2018 suggests an attempt to test the resistance level near the 1300 area and the continuation of the fall in GOLD prices with a target below the level of 1240, in favor of the drop, a trend line test will be performed on the indicator of 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
