Quotes of GOLD XAU/USD continue to move within the correction. At this point, we should expect an attempt to test the support level near the area of 1325. Where can we expect a rebound and the continued growth in the price of GOLD with a target above the level of 1375.
XAU/USD forecast & technical analysis February 27, 2018
In favor of the growth of quotations XAU/USD will perform a test of the support line on the indicator of relative strength index (RSI). Canceling the variant of the price increase for GOLD will be the fall and breakdown of the area 1310, which will indicate the breakdown of the lower border of the channel and the continuation of the fall into the area below the level of 1285. To expect confirmation of the growth of quotations XAU/USD stands with the breakdown of the upper boundary of the «Triangle» and closing above the level of 1365 .
XAU/USD forecast & technical analysis February 27, 2018 suggests an attempt to test the support level near the 1325 area and continue the growth of quotations above the level of 1375, the cancellation of the GOLD price growth scenario will trigger a breakthrough at level 1310, in this case, area below level 1285.
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