Quotes Gold XAU USD ended the trading week at 1190. Gold prices could push off from the upper boundary of the descending channel and currently retained potential for further price declines in the region below the local minimum.
XAU USD forecast Gold on January 30, 2017 — February 3, 2017
Cancellation option will be a strong growth of quotations XAU/USD above the level of 1220 will indicate that the continuation of prices growth of gold in the area above the level of 1250.
But do not rule out attempts to form a reversal pattern Forex failure swing on the indicator of relative strength, for this price can show another correction to the upper boundary of the descending channel and only after that will continue to fall.
XAU USD forecast Gold on January 30, 2017 — February 3, 2017 suggests an attempt to reduce the price of gold as a continuation of the descending forex 1:1 model with the potential to reduce the level below the area 1115, the cancellation option will sample area 1220 that point to continued growth.
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