Gold quotes are traded at the level of 1816.65. Gold is moving above the level of the moving average with a period of 55. This indicates the presence of a bullish trend for Gold. At the moment, Gold quotes are moving near the upper border of the Bollinger Bands indicator bars.
XAU/USD forecast on August 30 — September 3, 2021
As part of the gold forecast is expected to test the level of 1734.50. Where can 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 1880.60. The conservative buying area is located near the lower border of the Bollinger Bands indicator bars at 1730.20.
Cancellation of the option to continue the growth of Gold will be a breakdown of the area of the lower border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and the closing of the gold quotes below the area of 1710.20. 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, we should expect an acceleration of growth.
XAU/USD forecast on August 30 — September 3, 2021 suggests a test level of 1734.50. Further, growth is expected to continue to the area above the level of 1880.60. The conservative area for buying is located area of 1730.20. Cancellation of the GOLD growth option will be the breakdown of the level of 1710.20. In this case, we should expect a continuation of the fall.
