Weekly GOLD Forecast (1.6. – 5.6.2020)

An additional signal in favor of the rise in quotations and GOLD prices in the current trading week June 1 — 5, 2020 will be an uptrend line test on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the growth option for XAU/USD quotes will be a fall and a breakdown of the area of ​​1510. This will indicate a breakdown of the support level and a continued fall in the price of Gold with a target below the level of 1415. A confirmation of the growth in the value of the asset will be a breakdown of the resistance area and closing of quotations above the level of 1765.

GOLD Price Forecast and Analysis June 1 — 5, 2020 implies an attempt to test the support level near the area of ​​1625. Then, the continuation of the growth of Gold prices with the target above the level of 1875. A test of the trend line on the relative strength index (RSI) will favor the rise in quotations. Cancellation of the GOLD growth option will be a fall and a breakdown of the level of 1510. This will indicate a continued decline in quotations to the area below the level of 1415.

 

Weekly Target for 1.6. - 5.6.2020 is 1.000+ PIPs Profit

Posted: May 31, 2020 at 9:42 pm