Quotes of GOLD XAU/USD continue to move within the bullish channel. At the moment, we should expect an attempt to test the lower border of the channel near the level of 1330, from which we should expect a rebound and continue the growth of the price for gold with a target above the level of 1360.
XAU/USD forecast & technical analysis January 23, 2018
In favor of the growth of quotations XAU/USD will test the trend line on the indicator of relative strength index (RSI), as well as the formation of a reversal the «Head and Shoulders» model. Cancellation of 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 lower boundary of the bullish channel and the continuation of the fall below 1305. Expect to accelerate the growth of XAU/USD with a breakdown at level 1340.
XAU/USD forecast & technical analysis January 23, 2018 suggests an attempt to test the lower border of the channel near the level of 1330 and the continuation of the growth of quotations for a target above the level of 1360, the cancellation of the variant of the growth in prices for gold will break through the level of 1315.
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