Weekly GOLD Forecast (13.4. – 17.4.2020)

An additional signal in favor of the rise in quotations and gold prices in the current trading week April 13 — 17, 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 ​​1475. 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 1725.

GOLD Price Forecast and Analysis April 13 — 17, 2020 implies an attempt to test the support level near the area of ​​1515. Then, the continuation of the growth of Gold prices with the target above the level of 1785. 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 1475. This will indicate a continued decline in quotations to the area below the level of 1365.

 

Weekly Target for 13.4.2020 - 17.4.2020 is +1.550 PIPs Profit

Posted: April 13, 2020 at 9:02 am