Gold, uptrend continuation in case of break up 1493

Anton Kolhanov Anton Kolhanov

GOLD, Wednesday forecast, August 7

The uptrend may be expected to continue in case the market rises above resistance level 1493, which will be followed by reaching resistance level 1522. An downtrend will start as soon, as the pair drops below support level 1481, which will be followed by moving down to support level 1474 - 1470.

Weekly forecast, August 5 - 9

The uptrend may be expected to continue, while pair is trading above support level 1452.70, which will be followed by reaching resistance level 1470.50 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1488. An uptrend will start as soon, as the pair rises above resistance level 1446, which will be followed by moving up to resistance level 1430 and if it keeps on moving down below that level, we may expect the pair to reach support level 1414.

Author

Anton Kolhanov

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

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