Gold, Monday forecast, August 5
The uptrend may be expected to continue, while the XAU/USD pair is trading above support level 1452.70, which will be followed by reaching resistance level 1470.50. An downtrend will start as soon, as the XAU/USD pair drops below support level 1446.50, which will be followed by moving down to support level 1430.20.
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Weekly forecast, August 5 - 9
The uptrend may be expected to continue, while the XAU/USD pair is trading above support level 1452.70, which will be followed by reaching resistance level 1470.50 and if it keeps on moving up above that level, we may expect the XAU/USD pair to reach resistance level 1488. An uptrend will start as soon, as the XAU/USD pair rises above resistance level 1446, which will be followed by moving up to resistance level 1430 and if it keeps on moving down below that level, we may expect the pair to reach support level 1414.
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