GOLD XAU/USD close the trading week near the area of 1294. Quotes continue to move within the limits of the decline. At the moment, we should expect a test of the resistance level near the area of 1300 and the continuation of the fall in the price of Gold below the level of 1230.
XAU/USD weekly forecast June 4 — 8, 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 area of 1325, 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 1285 will confirm the development of a bearish trend.
XAU/USD weekly forecast June 4 — 8, 2018 suggests an attempt to test the resistance level near the 1300 area and the beginning of the fall in GOLD prices with a target below the level of 1230, in favor of the fall, a trend line test will be performed on the indicator of relative strength index (RSI).
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