Quotes of Gold XAU/USD completed the trading week at 1227. At this time, we should expect an attempt to correct the quotations and prices for Gold in the region of the broken border of the rising channel at the level of 1235, where again we should expect the continuation of the decline of Gold.
XAU/USD weekly forecast on May 15 — 19, 2017
The target of the fall may be the area at the support level below 1195. In favor of the fall of XAU/USD, a test of the broken trend line will appear on the indicator of relative strength. Cancellation of the option may be attempted to breakdown the area of 1250, which indicates a potential test area 1280, but this option involves the formation of a reversal model of the Head and shoulders and the continuation of falling quotations and prices for Gold.
XAU/USD weekly forecast on May 15 — 19, 2017 suggests an attempt to test the broken edge of the rising channel and continue falling with the potential reduction target near the area of 1195, the cancellation of the region 1250 will become a cancellation, XAU/USD 1215.
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