GOLD XAU/USD close the trading week near the area of 1322. Quotes continue to move within the correction. At the moment, we should expect the lower bound of the «Triangle» model near the 1300 area and the continuation of the growth above the level of 1415.
XAU/USD weekly forecast on March 5 — 9, 2018
In favor of the growth of quotations and GOLD prices, a support line test will be performed on the relative strength indicator (RSI). Cancellation of the growth scenario for XAU/USD will be the fall and breakdown of the 1290 area, which will indicate the breakdown of the lower boundary of the «Triangle» model and the continuation of the fall in gold prices with a target below the level of 1250.
XAU/USD weekly forecast on March 5 — 9, 2018 suggests an attempt to test the lower boundary of the «Triangle» model near the 1300 area and the start of the price increase for Gold with a target above the level of 1415, in favor of growth, a trend line test on the relative strength indicator (RSI), the cancellation of the growth option of GOLD will be a breakdown of the level of 1290, which indicates the continuation of the fall to the lower boundary of the bullish channel.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
