Gold Technicals In Sideways Trend
Forex Million | Apr 24, 2015 07:58AM ET
Main scenario:
XAU/USD is trading along a sideways trend with target on support level 1187.
An uptrend will start as soon, as the pair rises above resistance level 1193, which will be followed by moving up to resistance level 1202.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1187, which will be followed by moving down to support level 1170.
Previous forecast:
Weekly Forecast, 20 - 24 April
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1213, which will be followed by reaching support level 1187 and then to 1160.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1213, which will be followed by moving up to resistance level 1231.
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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