Weekly GOLD Forecast (30.3. – 3.4.2020)

An additional signal in favor of falling quotes and Gold prices in the current trading week March 30 — April 3, 2020 will be a test of the 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 ​​1745. This will indicate a breakdown of the resistance level and continued growth of Gold prices with a target above the level of 1795. 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 1405.

GOLD Price Forecast and Analysis March 30 — April 3, 2020 implies an attempt to test the resistance level near the area of ​​1635. Then, the continuation of the fall in Gold prices with the target below the level of 1245. 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 1745. This will indicate a continued rise in quotations to the area above the level of 1795.

 

Weekly Target for 30.3.2020 - 3.4.2020 is +1.100 PIPs Profit

Posted: March 29, 2020 at 7:39 pm