Quotes of Gold XAU/USD completed the trading week at 1227. At the moment Gold quotes are testing the area of the lower border of the rising channel, we should expect a rebound attempt to the area above the level of 1245, where again to expect a fall with the first target near the level of 1200.
XAU/USD Forecast Gold price on May 8 — 12, 2017
In favor of falling quotations and The price of Gold will perform a test of the broken trend line on the indicator of relative strength. Cancellation of the fall variant may be a punched line of a turn on the RSI indicator, which indicates a potential increase in the local maximum area. With the breakdown of the area of 1200, it is expected to accelerate the fall in quotations XAU/USD.
XAU/USD Forecast Gold price on May 8 — 12, 2017 suggests a correction attempt to the area above the level of 1245 and continuation of the fall with the first target at level 1200, in favor of the drop will perform a test of the broken trend line on the indicator of relative strength.
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