XAU USD FOREX Gold price forecast on November 15, 2016


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Quotes Gold XAU USD continues to fall and the development at the moment almost completed the goal descending forex 1:1 model. We continue to hold gold sales, and willing to try new sales after a minor correction of the gold price in the area above the level of 1240. The benefit of the test correction appears oversold zone on the indicator of relative strength.

XAU USD FOREX Gold price forecast on November 15, 2016

XAU USD FOREX Gold price forecast on November 15, 2016

Also it is necessary to expect formation of the descending forex model and 5-0 with a test area of 1240 again; you can try to sell the gold with a close stop. The purpose of the fall is the area below the level of 1180. Cancellation option will be a strong growth of quotations and leaves the descending channel.

XAU USD FOREX Gold price forecast on November 15, 2016 suggests an attempt of upward correction in the nearest resistance area at 1240 where again is expected to reduce XAU/USD quotes.

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