Quotes Gold held last month in line with expectations and our daily forecasts on gold prices. At the moment, there is potential for further XAU USD quotes drop to below the level of 1100.
XAU USD price forecast GOLD — June 2016
Cancellation option can become a strong growth of quotations and cost of Gold in June 2016 above the level of 1300, which will lead to penetration of the upper limit of the downward channel. An additional signal in favor of the fall is the development of GOLD for correction in the region at the level of 1280, where you can try to sell and wait for the beginning of fall in the framework of working out the model’s head and shoulders.
XAU USD price forecast GOLD — June 2016 suggests a continuation of falling prices of gold as part of the descending pattern 1:1 with a potential target at levels below 1180, but do not exclude the option of correction to 1280, to complete the model head and shoulders.
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