Quotes Gold XAU USD went into an upward correction, but at the moment there is a potential for the formation of the descending pattern is 1: 1 in order to fall to a level below 1240. Cancellation option of falling prices for gold May 12, 2016 will break through the upper boundary of the channel, and the growth of quotations XAU USD above the level of 1285. At the moment, we can expect a tight test of the upper boundary of the descending channel, where we should expect a rebound and the development of a fall.
XAU/USD forecast today May 12 2016
Thus, XAU/USD forecast today May 12 2016 suggests the fall in gold prices in the framework of the beginning of the descending pattern of 1:1 in order to fall below the 1240 level.