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GOLD: further break down of 1176 will start downtrend to 1162

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Feb 10, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    Main scenario: The pair is trading along an sideways trend between support 1176 (where now is going) and resistance 1200. The uptrend may be expected to continue in case the market rises above resistance level 1200, which will be followed by reaching resistance level 1222. Alternative scenario: An downtrend will start as soon, as the pair drops below support level 1176, which will be followed by moving down to support level 1162 and then to 1142.

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