Gold quotes are traded at the level of 1301.12. Gold moves above the level of moving media with a period of 55. This indicates the presence of bullish for Gold. At the moment, the quotes of Gold are moving near the upper border of the Bollinger Bands indicator bars.
GOLD forecast and XAU/USD analysis on January 29, 2019
As part of the gold forecast is expected to test the level of 1293.60. Where should we expect an attempt to continue the growth of Gold and the further development of the upward trend. The purpose of this movement is the area near the level of 1316.20. The conservative buying area is located near the lower border of the Bollinger Bands indicator bands at 1271.20.
Cancellation of the option of continuing the growth of Gold will be the breakdown of the region of the lower boundary of the Bollinger Bands indicator. As well as the moving average with a period of 55 and the closing of the gold quotes below the area of 1270.00. This will indicate a change in the current trend in favor of a bearish for Gold. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of growth.
GOLD forecast and XAU/USD analysis on January 29, 2019 implies a test level of 1293.60. Further growth is expected to continue to the area above the level of 1316.20. The conservative buying area is located is near the area of 1271.20. Cancellation of the growth of gold will make the breakdown level of 1270.00. In this case, we can expect to continue falling.
