Gold Trading Along A Downtrend
Forex Million | Apr 08, 2015 05:42AM ET
Gold Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1215 - 1218 which will be followed by reaching support level 1200 and if it keeps on moving down below that level, we may expect the pair to reach support level 1188.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1218, which will be followed by moving up to resistance level 1238.
Previous forecast:
Weekly Forecast, 30 March - 03 April
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue in case the market rises above resistance level 1201, which will be followed by reaching resistance level 1218 and then to 1238.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1184, which will be followed by moving down to support level 1160.
Previous forecast:
Monthly forecast, April
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue while pair is trading above support level 1160, which will be followed by reaching resistance level 1238 - 1256.
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Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1160, which will be followed by moving down to support level 1080.
Previous forecast:
Long-term Forecast: January - June 2015
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1325, which will be followed by reaching support level 1080 and 975.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1325, which will be followed by moving up to resistance level 1560.
Previous forecast:
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