Weekly GOLD Forecast (11.5. – 15.5.2020)

An additional signal in favor of the rise in quotations and GOLD prices in the current trading week May 11 — 15, 2020 will be an uptrend 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 ​​1505. 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 1365. 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 May 11 — 15, 2020 implies an attempt to test the support level near the area of ​​1605. Then, the continuation of the growth of GOLD prices with the target above the level of 1945. A test of the trend line on the relative strength index (RSI) will be in favor of raising quotes. Cancellation of the Gold growth option will be a fall and a breakdown of the level of 1505. This will indicate a continued decline in quotations to the area below the level of 1365.

Weekly Target for 11.5.2020 - 15.5.2020 is +1.100 PIPs Profit

Posted: May 10, 2020 at 9:23 pm