Gold Downtrend Expected To Continue
Forex Million | Sep 07, 2015 02:54AM ET
Gold
Main scenario:
The pair is trading along a downtrend with target on 1095, and may be expected to continue while pair is trading below resistance level 1128.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1128, which will be followed by moving up to resistance level 1140.
Weekly Forecast, 7 - 11 September
Main scenario:
The pair is trading along a downtrend with target on 1095 - 1080 and may be expected to continue, while pair is trading below resistance level 1128.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1128, which will be followed by moving up to resistance level 1040 and then to 1160.
Monthly forecast, September 2015
Main scenario:
The pair is trading along a 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 a 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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