Weekly GOLD Forecast (6.4. – 10.4.2020)

An additional signal in favor of the rise in quotations and gold prices in the current trading week April 6 — 10, 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 bullish channel. Cancellation of the growth option for XAU/USD quotes will be a fall and a breakdown of the area of ​​1420. 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 1345. 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 1675.

GOLD Price Forecast and Analysis April 6 — 10, 2020 suggests an attempt to test the support level near the area of ​​1565. Then, the continuation of the growth of GOLD prices with the target above the level of 1745. A test of the trend line on the relative strength index (RSI) will be in favor of raising the quotes. Cancellation of the GOLD growth option will be a fall and a breakdown of the level of 1420. This will indicate a continued decline in quotations to the area below the level of 1345.

 

Weekly Target for 6.4.2020 - 10.4.2020 is +1.450 PIPs Profit

Posted: April 5, 2020 at 10:56 am