Quotes Gold XAU/USD failed to update the domain local maximum, thereby canceled reversal pattern head and shoulders. However, at the moment there is a potential for a fall in the descending pattern Wolfe waves.
Weekly Forecast XAU USD June 20, 2016 — June 24, 2016
The purpose of the fall is the area of Gold quotes at a level below 1180. Cancellation option will break through the resistance level of up growth and development of the quotations above XAU USD area 1340. At the moment we should expect the upward correction attempt to complete the formation of reversal pattern at shorter periods of time, and the continuation of falling of quotations XAU/USD.
Weekly Forecast XAU USD June 20, 2016 — June 24, 2016 suggests the decline in gold prices to the level of 1180 in the framework of the mining model, Wolfe waves.
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