Quotes of GOLD continue to move within the limits of growth. At this point, we should expect an attempt to test the area of support for the channel near the level of 1330. Where can we expect a rebound and the continued growth in the price of gold with a target above the level of 1365.
XAU/USD forecast & technical analysis April 11, 2018
In favor of the growth of quotations XAU/USD will perform a test of the support line on the indicator of relative strength index (RSI). Canceling the variant of the price increase for Gold will be the fall and breakdown of the area of 1315, which will indicate the breakdown of the support area and the continuation of the fall into the area below the level of 1300. To expect confirmation of the growth of quotations XAU/USD stands with the breakdown of the resistance area and the closing above the level of 1345.
XAU/USD forecast & technical analysis April 11, 2018 suggests an attempt to test the support area near the level of 1330 and the continuation of the growth of quotations above the level of 1365 as part of the development of the bullish model «5-0», the abolition of the growth of prices for gold will breakdown level 1315, in this case, you should expect a decline in the area below the level of 1300.