GOLD, Long-term Forecast: May - August


Main scenario:
The pair is trading along an downtrend in 4th wave, that will be ended on he level 1560.
The downtrend may be expected to continue while pair is trading below resistance level 1560, which will be followed by reaching support level 1182 and then to 975 - 878.

Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1560, which will be followed by moving up to resistance level 1747 and then to 2000.

g



Recommended Content


Recommended Content

Editors’ Picks

EUR/USD rises to daily tops past 1.0800 post-NFP

EUR/USD rises to daily tops past 1.0800 post-NFP

The selling bias in the Greenback gathers extra pace on Friday after the US economy created fewer jobs than initially estimated in April, lifting EUR/USD to the area of fresh peaks above 1.0800.

EUR/USD News

GBP/USD surpasses 1.2600 after disheartening US Payrolls

GBP/USD surpasses 1.2600 after disheartening US Payrolls

The resumption of the downward pressure in the US Dollar motivates GBP/USD to extend its earlier advance to the area beyond 1.2600 the figure in the wake of the release of US NFP.

GBP/USD News

Gold climbs to new highs above $2,300 on poor NFP prints

Gold climbs to new highs above $2,300 on poor NFP prints

The precious metal maintains its bullish stance and breaks above the $2,300 barrier on Friday after US Nonfarm Payrolls showed the economy added fewer jobs than expected during last month.

Gold News

XRP edges up after week-long decline as Ripple files letter in reply to SEC’s motion

XRP edges up after week-long decline as Ripple files letter in reply to SEC’s motion

Ripple filed a letter to the court to support its April 22 motion to strike new expert materials. The legal clash concerns whether SEC accountant Andrea Fox's testimony should be treated as a summary or expert witness. 

Read more

Week ahead – BoE and RBA decisions headline a calm week

Week ahead – BoE and RBA decisions headline a calm week

Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.

Read more

Majors

Cryptocurrencies

Signatures