Gold, continue downtrend to 1479 while trading below 1495

Anton Kolhanov Anton Kolhanov

GOLD, Tuesday forecast, September 10

The downtrend may be expected to continue, while pair is trading below resistance level 1495.5, which will be followed by reaching support level 1502.5 .
An uptrend will start as soon, as the pair rises above resistance level 1495.6, which will be followed by moving up to resistance level 1502.5 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1516.9.

Weekly forecast, September 9 - 13

The downtrend may be expected to continue in case the market drops below support level 1479.7, which will be followed by reaching support level 1446.2.
An uptrend will start as soon, as the pair rises above resistance level 1502.6, which will be followed by moving up to resistance level 1523.1 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1542.4.

Author

Anton Kolhanov

Anton Kolhanov is a trader and an analyst. He started to study the Forex market in 2003.

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