Quotes of Gold XAU/USD completed the trading month at 1248. At the moment Gold continues to move within the downward Forex model 5-0 with the potential to decline near the area of 1125. In favor of falling quotations and prices for Gold is the test of the resistance area on the indicator of relative strength.
XAU/USD Forecast Gold prices on April 2017
Expect to accelerate the fall of quotations is with the breakdown of the nearest support area at the level of 1185, in this case, expect the completion of the formation of the reversal model Double Top at small time intervals.
The cancellation of the decline in the price of Gold could be the strong growth and breakdown of the 1265 area, which indicates that growth will continue to the level above the level of 1340. With the breakdown of area 1345, we should expect an attempt to continue the development of the upward trend in XAU/USD.
XAU/USD Forecast Gold prices on April 2017 assumes an attempt to test the upper boundary of the descending channel and the continuation of the decline to the area below the level of 1125, the cancellation will be the breakdown of the upper boundary and the closing above the level of 1265, which will indicate the cancellation of the downtrend model of the 5-0.
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