Gold Trading In Wide Sideways Range
Forex Million | Jul 22, 2014 05:41AM ET
Main scenario:
Gold trading along a wide sideways trend.
An local downtrend will start from resistance level 1318, which will be followed by moving down to support level 1307.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1318, which will be followed by moving up to resistance level 1326 - 1332.
Previous forecast:
Weekly Forecast: 21 - 25 July
Main scenario:
The pair is trading along a sideways trend.
An local downtrend will start from resistance level 1318, which will be followed by moving down to support level 1294.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1318, which will be followed by moving up to resistance level 1332 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1350.
Previous forecast:
Monthly Forecast: July - August (updated 07/07/14)
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue in case the market rises above resistance level 1332, which will be followed by reaching resistance level 1365 and then to 1392.
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Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1294, which will be followed by moving down to support level 1248.
Previous forecast:
Long-Term Forecast: May - August
Main scenario:
The pair is trading along a 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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