forex gold forecast

The gold markets have been a bit difficult to deal with in recent months, but, as you can see, I have drawn an excellent bullish trend line that has offered support in recent weeks. I think we will continue to see upward pressure and the $ 1300 level will be the upside target. I think we will reach this level sometime during the first quarter of 2018 and possibly even break it. This has a lot to do with the dollar and, if it continues to lose value, I think gold will recover more. The setbacks at this point should find support, at least in the uptrend line. In the longer term, we could reach the $ 1350 level.

The turmoil in this market makes sense because there are many questions about whether "anti-dollar" operations are moving into the space of cryptocurrencies. I think it's remarkable, but gold can also win on its own. If we break below the bullish trend line, it would be a bearish signal, with the price perhaps returning to the $ 1200 level, which would be a new test of support over the past year. Given enough time, I think we're going to find buyers and I think traders with a vision to buy and hold long term should make a profit this year. The stochastic oscillator is starting to cross near the oversold level on the weekly chart so it could be a sufficient technical reason to go long. However, enter the market slowly, because there is a lot of volatility or, at least, with physical gold, to have the opportunity to overcome the waves of volatility that, undoubtedly, we will see in this market in the coming months. I think the buyers are about to impose themselves again.

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