A potential decrease in XAU/USD quotes could be signaled by a test of the resistance line on the relative strength index (RSI) and a breakout from the upper border of the downward channel. However, if prices surge and break above 2375 on June 18, 2024, this would invalidate the bearish scenario, signaling a breakout of the resistance area and continued growth toward 2415.
An acceleration in the decline of XAU/USD quotes is expected if the support area is breached and prices close below 2280, indicating a breakdown of the lower boundary of the bullish correction channel. The scenario assumes an initial price correction with a test of the resistance area around 2350, followed by a continued decline targeting below 2235. Conversely, a strong rise in prices and a breakout above 2375 would negate the bearish scenario, suggesting a continued rise in Gold prices with a potential target above 2415.