Quotes of GOLD XAU/USD are traded at the level of 1257.99. At the moment, GOLD quotes are testing the resistance area. It is worth to expect a drop in gold quotes in the support area at 1230.00. In the event of a breakdown in the level of support, one should expect the continuation of the development of the fall of XAU/USD with a target below 1185.00.
XAU/USD forecast & technical analysis on May 19, 2017
In favor of the drop is the resistance line test on the MACD indicator, as well as the test of the broken trend line on the price chart. The cancellation of the variant of falling quotations of GOLD will be a breakdown of the resistance level and consolidation of quotations above the level of 1285.00, which will indicate the continued growth in the area of the next resistance level near the level of 1295.00. However, as the main option is to expect the fall of quotations XAU/USD in the area below the level of 1230.00.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
