XAU/USD: Trading Along A Downtrend
Forex Million | Mar 27, 2014 03:58AM ET
The pair is trading along a downtrend. The downtrend may be expected to continue while the pair is trading below resistance level 1311, which will be followed by reaching support level 1290.
h3 Alternative scenario:/h3 An uptrend will start as soon as the pair rises above resistance level 1311, which will be followed by moving up to resistance level 1320 and then to 1332.Previous forecast:
h3 Weekly Forecast, 03 - 07 March/h3
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue in case the market rises above resistance level 1350, which will be followed by reaching resistance level 1392.
Alternative scenario:
A downtrend will start as soon, as the pair drops below support level 1311, which will be followed by moving down to support level 1269.
Previous forecast:
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue in case the market rises above resistance level 1350, which will be followed by reaching resistance level 1392 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1470.
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Alternative scenario:
A downtrend will start soon, as the pair drops below support level 1311, which will be followed by moving down to support level 1269 - 1234.
Previous forecast:
Main scenario:
The pair is trading along a sideways trend.
An uptrend will start as soon, as the pair rises above resistance level 1392, which will be followed by moving up to resistance level 1560.
Alternative scenario:
A downtrend will start as soon, as the pair drops below support level 1234, which will be followed by moving down to support level 1080 - 975.
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