Quotes Gold XAU USD continued to trade in a model triangle on the current trading week. However, the potential for the fall remains, a strong signal in favor of the XAU USD quotes fall is the formation of the model failure swing in the relative strength indicator.
Gold XAU USD forecast 22 August — 26 August, 2016
This signal suggests an attempt to break the fall, and the area below the level of 1315. Cancellation option will be a strong increase in the price of gold above the level of 1370, which points to a breakdown triangle and point to continued growth. In the case of the breakdown of the lower limit of the model triangle target of the fall of quotations XAU USD will be the area below the level of 1250.
Gold XAU USD forecast 22 August — 26 August, 2016 assumes fall towards the lower boundary of the model triangle in case of breakdown points to practicing model further down.