Gold Technicals: The Down Trend
Forex Million | Sep 25, 2014 02:43AM ET
Main XAU/USD scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1214, which will be followed by reaching support level 1207 and if it keeps on moving down below that level, we may expect the pair to reach support level 1195.
Alternative scenario: An uptrend will start as soon, as the pair rises above resistance level 1214, which will be followed by moving up to resistance level 1223.
Previous forecast:
Weekly Forecast, 22 - 26 September
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue in case the market drops below support level 1207, which will be followed by reaching support level 1186.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1225, which will be followed by moving up to resistance level 123 and then to 1250.
Previous forecast:
Monthly forecast, September - October (updated 09/08/14)
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue in case the market drops below support level 1250, which will be followed by reaching support level 1207.
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Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1293, which will be followed by moving up to resistance level 1328 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1392.
Previous forecast:
Long-term Forecast: May - August
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1560, which will be followed by reaching support level 1182 and then to 975 - 878.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1560, which will be followed by moving up to resistance level 1747 and then to 2000.
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