Quotes of Gold XAU USD completed the trading week at 1228. Gold continues to trade as part of a downward trend. At the moment, we should expect a test of the upper boundary of the descending channel and the continuation of the fall with the breakdown of the region 1185 within the framework of the Forex model. The failed swing on the indicator of relative strength.
XAU/USD Forecast on March 20, 2017 — March 24, 2017
The cancellation of the fall variant will be triggered by the breakdown of the upper border of the channel and the growth of XAU/USD quotations above the level of 1235, which indicates the continued growth with the aim above the area of 1280. With the breakdown of area 1185, it is expected to accelerate the fall of Gold quotations in the area below the local minimum level.
XAU/USD Forecast on March 20, 2017 — March 24, 2017 involves an attempt to test the upper boundary of the descending channel and continue falling as part of the beginning of the working out of the bearish model 5-0 with the aim of falling below the area of 1185.
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