Gold, downtrend continuation to 1501 - 1497

Anton Kolhanov Anton Kolhanov

GOLD, Friday forecast, August 16

The downtrend may be expected to continue, while pair is trading below resistance level 1511.30, which will be followed by reaching support level 1501 - 1497.
An uptrend will start as soon, as the pair rises above resistance level 1511.30, which will be followed by moving up to resistance level 1522.

Weekly forecast, August 12 - 16

The uptrend may be expected to continue, while pair is trading above support level 1489, which will be followed by reaching resistance level 1522 - 1532.
An downtrend will start as soon, as the pair drops below support level 1488, which will be followed by moving down to support level 1470 and 1446.

Author

Anton Kolhanov

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

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