Quotes Gold XAU USD continues to trade within the descending channel, and is expected to continue falling to below the level of 1200 in the framework of the descending pattern of 1:1. Cancellation option can become a strong growth of quotations and sample the upper boundary of the channel, which points to continued growth in the region above the level of 1275.
XAU USD Gold price forecast October 12, 2016
In case of breaking the upper limit should expect a potential attempt of upward movement in the area of local maxim.
XAU USD Gold price forecast October 12, 2016 suggests an attempt to continue falling in the framework of the completion of the descending forex 1:1 model in order to reduce below the level of 1200.
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