Quotes of Gold XAU/USD continue to move within the limits of the decline. At the moment, we should expect a resistance level test near the 1300 area, and then continue falling below 1265. In favor of falling quotations XAU/USD will test the downward trend line on the indicator of relative strength index (RSI), as well as test the upper boundary of the bearish channel.
XAU/USD prediction & technical analysis on October 3, 2017
Expect the acceleration of the fall of the XAU/USD with a breakdown of the level of 1270. The abolition of the option of reducing the price of GOLD will be a breakdown of the area of 1305, which will indicate the breakdown of the resistance level and the continuation of XAU/USD growth above the level of 1330.
XAU/USD prediction & technical analysis on October 3, 2017 presupposes an attempt to test the upper border of the channel near the level of 1300, from which it is expected to continue the decline to the area of 1265, an additional signal in favor of the fall will be a test of the trend line on the indicator of relative strength index (RSI).