Weekly GOLD Forecast (6.7. – 10.7.2020)

An additional signal in favor of the rise in quotations and gold prices in the current trading week July 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 ascending channel. Cancellation of the growth option for XAU/USD quotes will be a fall and a breakdown of the area of ​​1625. 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 1565. 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 1825.

GOLD Price Forecast and Analysis July 6 — 10, 2020 implies an attempt to test the support level near the area of ​​1705. Then, the continuation of the growth of gold prices with the target above the level of 1935. A test of the trend line on the relative strength index (RSI) will be in favor of raising prices. Cancellation of the GOLD growth option will be a fall and a breakdown of the level of 1625. This will indicate a continued decline in quotations to the area below the level of 1565.

 

Weekly Target for 6.7. - 10.7.2020 is 2.600+ PIPs Profit

Posted: July 6, 2020 at 10:01 am