Quotes of GOLD continue to move within the correction. At this point, we should expect an attempt to test the lower border of the bullish channel near the area of 1320. Where can we expect a rebound and the continued growth in the price of gold with a target above the level of 1375.
XAU/USD forecast & technical analysis April 4, 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). Cancellation of the variant of the price increase for Gold will be the fall and breakdown of the area 1305, which will indicate the breakdown of the support area and the continuation of the fall to the area below the level of 1290. To expect confirmation of the growth of XAU/USD prices is with the breakdown of the resistance area and the closing above the level of 1345.
XAU/USD forecast & technical analysis April 4, 2018 involves an attempt to test the bottom of the uplink near the 1320 area and continue the growth of quotations above the level of 1375 as part of the upgrading of the bullish pattern «5-0», will break through the level of 1305, in this case, you should expect a decline in the area below the level of 1290.