GOLD Price Forecast For This/Next Week
(August 17 – 21, 2020)
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 1978, which will be followed by moving up to resistance level 2073 and if it keeps on moving up above that level, we may expect the market to reach resistance level 2175.
Downtrend scenario
An downtrend will start as soon, as the pair drops below support level 1920, which will be followed by moving down to support level 1862 and if it keeps on moving down below that level, we may expect the market to reach support level 1795 – 1740.
chart: xauusd gold market outlook, technical analysis
previous week gold forecast chart
GOLD Price Forecast 2020, Long-term
(Quarter III: July – September, 2020)
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 1920 – 1795, which will be followed by reaching resistance level 2175 – 2400.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 1795, which will be followed by moving down to support level 1500 and 1350.
chart: xauusd gold technical analysis, market outlook
