Quotes of Gold XAU/USD continue to move as part of the formation of the reversal forex pattern «Head and Shoulders». At the moment, we should expect an attempt to test the area of 1270 and the beginning of the drop in quotations and prices for Gold within the forex pattern «Wedge».
XAU/USD forecast Gold prices on June 2, 2017
An additional signal in favor of the fall is the breakdown of the bullish trend line on the indicator of relative strength index (RSI). The abolition of the decline in the price of Gold will be a strong growth and breakdown of the region 1280, which will indicate the continued growth of XAU/USD.
XAU/USD forecast Gold prices on June 2, 2017 suggests an attempt to fall as part of the forex pattern «Wedge» with the first target near the 1250 area, the cancellation of the option of lowering quotations and the price of Gold will result in a strong growth and breakdown of the region 1280.
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