Gold, falling to 1398 with potential for 1390

Anton Kolhanov Anton Kolhanov

Wednesday forecast, July 17

The pair is trading along an downtrend with target on 1398 and if it keeps on moving down below that level, we may expect the pair to reach support level 1390.

Alternative scenario:

An uptrend will start as soon, as the pair rises above resistance level 1408, which will be followed by moving up to resistance level 1418.

Weekly forecast, July 15 - 19

The pair is trading along an uptrend with target on 1433 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1470.
Downtrend can start from resistance level 1433, which will be followed by moving down to support level 1397 - 1382.

Author

Anton Kolhanov

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

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