XAU/USD Trading Along A Downtrend
Forex Million | Sep 16, 2014 02:52AM ET
Main scenario:
The pair is trading along an downtrend.
The uptrend may be expected to continue while pair is trading above support level 1238, which will be followed by reaching resistance level 1228.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1238, which will be followed by moving up to resistance level 1244 and to 1250.
Previous forecast:
Weekly Forecast, 15 - 19 September
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1250, which will be followed by reaching support level 1223 and to 1207.
Alternative scenario:
The uptrend may be expected to continue in case the market rises above resistance level 1250, which will be followed by reaching resistance level 1293.
Previous forecast:
Monthly forecast, September - October (updated 09/08/14)
Main scenario:
The pair is trading along an downtrend.
The downtrend may be expected to continue in case the market drops below support level 1250, which will be followed by reaching support level 1207.
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Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1293, which will be followed by moving up to resistance level 1328 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1392.
Previous forecast:
Long-term Forecast: May - August
Main scenario:
The pair is trading along an 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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