Weekly GOLD Forecast (8.6. – 12.6.2020)

An additional signal in favor of the rise in quotations and gold prices in the current trading week June 8 — 12, 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 ​​1515. 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 1425. 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 1785.

GOLD Price Forecast and Analysis June 8 — 12, 2020 implies an attempt to test the support level near the area of ​​1655. Then, the continuation of the growth of GOLD prices with the target above the level of 1925. A test of the trend line on the relative strength index (RSI) will favor the rise in quotations. Cancellation of the Gold growth option will be a fall and a breakdown of the level of 1515. This will indicate a continued decline in quotations to the area below the level of 1425.

 

Weekly Target for 8.6. - 12.6.2020 is 2.200+ PIPs Profit

Posted: June 7, 2020 at 9:06 pm