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Gold Technicals October 5, 2015

Discussion in 'Technical Analysis' started by Jonathan, Oct 6, 2015.

  1. Jonathan

    Jonathan Forum Member

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    Main scenario:
    The pair is trading along an uptrend with target on 1152, that may be expected to continue in case the market rises above resistance level 1140.

    Alternative scenario:
    An downtrend will start as soon, as the pair drops below support level 1124, which will be followed by moving down to support level 1108.

    Weekly Forecast, 5 - 9 October

    Main scenario:
    The pair is trading along an uptrend with target on 1152, that may be expected to continue in case the market rises above resistance level 1140.

    Alternative scenario:
    An downtrend will start as soon, as the pair drops below support level 1124, which will be followed by moving down to support level 1108.

    Monthly forecast, October 2015

    Main scenario:
    The pair is trading along an sideways trend between resistance 1170 and support 1108 levels. An downtrend will start as soon, as the pair drops below support level 1108, which will be followed by moving down to support level 1080.

    Alternative scenario:
    An uptrend will start as soon, as the pair rises above resistance level 1170, which will be followed by moving up to resistance level 1224.

    Long-term Forecast: September - November, 2015

    Main scenario:
    The pair is trading along an downtrend with target on 970 - 880 and may be expected to continue, while pair is trading below resistance level 1170.

    Alternative scenario:
    An uptrend will start as soon, as the pair rises above resistance level 1170, which will be followed by moving up to resistance level 1325 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1560 or we will have correction to 1170.

    Read full forex technical analysis here
     

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