GOLD Weekly Forecast, August 31 – September 4

GOLD Price Forecast For This/Next Week
(August 31 – September 4, 2020)

Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 2033, which will be followed by reaching resistance level 2175.
Downtrend scenario
An downtrend will start as soon, as the market 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 Gold This/Next Week Forecast, Technical Analysis
chart: xauusd gold market outlook, technical analysis

previous week gold forecast chart
Chart Gold This/Next Week Forecast, Technical Analysis

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 Gold Forecast 2020, Long-term Outlook, Technical Analysis
chart: xauusd gold technical analysis, market outlook

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