Quotes of XAU/USD Gold continue to move in a downward trend. At the moment, there is still potential for continued decline in quotations and prices for Gold in the area below the level of 1200. In favor of the decline is a tight test area of resistance, as well as a test of the downward trend line on the indicator of relative strength.
XAU/USD Forex Forecast Gold on May 11, 2017
The cancellation of the variant of falling quotes and prices for Gold will result in a strong growth and breakdown of the 1235 area, which will indicate the breakdown of the upper boundary of the low-water canal and the continuation of the development of correction for XAU/USD.
XAU/USD Forex Forecast Gold on May 11, 2017 suggests a test of the 1225 area, from where it is expected to continue the decline to the area below the 1200 level within the rebound from the downward trend line on the relative strength indicator, the break will be a breakdown of the upper border of the channel.
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