Quotes Gold XAU USD continue to attempt to increase, but the price reduction risks persist. At the moment, there is potential for further development of the upward correction in the area above the level of 1200 in the framework of the completion of a downward FX model 1:1, which points to the continued decline in the area below the level of 1105.
XAU USD forecast GOLD price on January 5, 2017
The sale is considered a breakdown of the uptrend line, which indicates the completion of the correction either at the time of the test the upper boundary of the channel.
Cancellation option complete the formation of the descending pattern will be the breakdown of the area in 1215, which points to continued growth in prices for gold in the area above the level of 1250.
XAU USD forecast GOLD price on January 5, 2017 suggests an attempt to continue the development of correction to the upper limit, but the breakdown the trend line will provoke reduction of quotations in the area below the level of 1105.
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