Gold Trades On Sideways Trend
Forex Million | Sep 14, 2015 02:48AM ET
Main scenario:
Gold is trading along on a sideways trend between 1113 and 1095.
An uptrend will start as soon, as the pair rises above resistance level 1113, which will be followed by moving up to resistance level 1125.
Alternative scenario:
An downtrend is not expecting while pari is trading above 1095.
Weekly Forecast, 14 - 18 September
Main scenario:
The pair is reached its target on the level 1095 and now will be trading between level 1125 - 1095. The next downtrend may be expected to continue in case the market drops below support level 1095, which will be followed by reaching support level 1080.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1113, which will be followed by moving up to resistance level 1125 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1140 and 1160 - 1170.
Monthly forecast, September, 2015
Main scenario:
The pair is trading along an downtrend with target on 1080 and may be expected to continue, while pair is trading below resistance level 1170.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1170, which will be followed by moving up to resistance level 1224.
Long-term Forecast: September - November, 2015
Main scenario:
The pair is trading along an downtrend with target on 970 - 880 and may be expected to continue, while pair is trading below resistance level 1170.
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Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1170, which will be followed by moving up to resistance level 1325 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1560 or we will have correction to 1170.
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