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.

Chart

 

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.

Chart

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