GOLD have downtrend to 1540 while tradiong below 1557

GOLD, Monday forecast, January 13
Downtrend
The downtrend may be expected to continue, while pair is trading below resistance level 1557, which will be followed by reaching support level 1540.
Uptrend
An uptrend will start as from support level 1540, as the pair rises above resistance level 1557, which will be followed by moving up to resistance level 1575.

Weekly forecast, January 13 – 17
Most important news of this week
Monday: –
Tuesday: US Core CPI (YoY) (Dec)
Wednesday: US-China trade war phase 1 deal, Crude Oil Inventories
Thursday: EU ECB Publishes Account of Monetary Policy Meeting, US Core Retail Sales (MoM) (Dec)
Friday: EU Core CPI (YoY) (Dec)

Forecast and technical analysis
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 1540, which will be followed by reaching resistance level 1575 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1611.
Downtrend
An downtrend will start as from resistance 1575, as the pair drops below support level 1540, which will be followed by moving down to support level 1513.

Monthly forecast, January – February
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 1557, which will be followed by reaching resistance level 1616.
Downtrend
An downtrend will start as soon, as the pair drops below support level 1557, which will be followed by moving down to support level 1513.

DISCLAIMER: All information provided by Anton Kolhanov is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to Buy or Sell securities. Anton Kolhanov is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained. You should do your own thorough research before making any investment decisions and seek advice from an independent financial advisor.

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