Quotes of GOLD XAU/USD continue to move within the framework of strong growth. At this point, we should expect an attempt to test the lower boundary of the upstream channel near the area of 1340. 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 March 27, 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 1335, which will indicate the breakdown of the lower boundary of the bullish channel and the continuation of the fall into the area below the level of 1315. 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 1350.
XAU/USD forecast & technical analysis March 27, 2018 suggests an attempt to test the lower border of the channel near the 1340 area and the continuation of the growth of quotations above the level of 1365, the cancellation of the variant of the price increase for GOLD will break through the level of 1335, in this case, in the area below the level of 1315.