Quotes Gold XAU/USD close the trading week near the area of 1272. Quotes continue to move within a downward correction. At the moment GOLD is testing the lower boundary of the channel, it is worth expecting a rebound and the growth of quotations above the level of 1340.
XAU/USD weekly forecast on October 9 — 13, 2017
In favor of the growth of quotations and prices for GOLD is the test of the support line on the indicator of relative strength index (RSI), and the formation of the bullish model «5-0». Cancellation of the variant of growth of quotations XAU/USD will fall and breakdown of the area 1240, which will indicate the continued decline in the price of GOLD with a potential target near the level of 1205.
XAU/USD weekly forecast on October 9 — 13, 2017 suggests a test of the lower border of the channel near the area of 1255, from which the rebound and the rise in prices for GOLD above the level of 1340 are expected, in favor of growth is the test of the trend line on the indicator of relative strength index (RSI).