A potential decline in XAU/USD quotes could be indicated by a test of the resistance line on the relative strength index (RSI) and a breakout from the lower border of the Head and Shoulders reversal pattern. However, if prices surge and break above 2375 on June 13, 2024, this would invalidate the bearish scenario, signaling a breakout of the resistance area and continued growth toward 2415.
An acceleration in the fall of XAU/USD quotes is expected if the support area is breached and prices close below 2260. The scenario assumes an initial price correction with a test of the resistance area around 2330, followed by a continued decline targeting below 2165. Conversely, if there is a strong rise in prices and a breakout above 2375, this would negate the bearish scenario, indicating a continued rise in Gold prices with a potential target above 2415.