Weekly GOLD Forecast (23.3. – 27.3.2020)

An additional signal in favor of falling quotations and GOLD prices in the current trading week March 23 — 27, 2020 will be a test of the broken trend line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the option of falling XAU/USD quotes will be made by strong growth and a breakdown of the area of ​​1675. This will indicate a breakdown of the resistance level and continued growth of Gold prices with a target above the level of 1725. A confirmation of the fall in the value of the asset will be a breakdown of the support area and closing of quotations below the level of 1395.

GOLD Price Forecast and Analysis March 23 — 27, 2020 suggests an attempt to test the resistance level near the area of ​​1580. Then, the continuation of the fall in GOLD prices with the target below the level of 1145. A test of the trend line on the relative strength index (RSI) will be in favor of falling quotes. Cancellation of the option to reduce GOLD will be a strong growth and the breakdown of the level of 1675. This will indicate a continued rise in quotations to the area above the level of 1725.

 

Weekly Target for 23.3.2020 - 27.3.2020 is +1.500 PIPs Profit

Posted: March 23, 2020 at 9:20 am