Quotes Gold XAU USD continues to fall in line with expectations and our daily forecast for the gold price. At the moment, there is the potential to continue falling in the area at the level of 1220 in the framework of the completion of the formation of topping model head and shoulders on the indicator of relative strength. Cancellation option could be a strong increase in prices on the Gold May 11, 2106 above the local maximum level, but this option we consider unlikely.
XAU USD forecast today: May 11 2016
Thus, XAU USD forecast today: May 11 2016 suggests a fall in order to test the lower boundary of the rising channel on the level of 1220.
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