XAU USD Gold price forecast on November 1, 2016


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Quotes Gold XAU USD continues to trade within the descending channel, despite the attempt of correction. As you can see, the values of the relative strength indicator again test the downward trend line, indicating a fall since the current levels. We are trying to sell gold with a stop above the level of 1280, quotations leaves the descending channel will indicate the development of an upward trend and the continued growth of quotations XAU USD.

XAU USD Gold price forecast on November 1, 2016

XAU USD Gold price forecast on November 1, 2016

The purpose of the fall and of the descending forex 1: 1 model is the area on the level below 1180.

XAU USD Gold price forecast on November 1, 2016 suggests an attempt to fall within the beginning of the descending FX models with the potential to decrease below the level of 1180.

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