Quotes of Gold XAU USD continue to move within the limits of the decline, but at the moment there is a potential for an attempt of correction to the area of 1245 as part of the completion of the Forex model of the Head and Shoulders.
XAU/USD Forecast on March 8, 2017
At the same time, we should not exclude the attempt to fall from the current levels due to the test of the broken trend line on the indicator of relative strength. The potential target of the decline is the area on the level below the area of 1185.
By canceling the variant of falling quotations and prices for Gold, a breakdown of the local maximum area will occur, indicating that the growth of gold prices will continue.
XAU/USD Forecast on March 8, 2017 suggests an attempt to rebound from the support area, in the case of a breakdown of the current level, it is expected to accelerate the fall of the XAU/USD quotations with the potential reduction target at the level below the area of 1185.
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