22, August 2016

XAU/USD (a 4-hour chart)

General review

Gold quotes fell to the lower border of the medium-term range 1336-1358.

Trading recommendations

On the four-hour chart a reversal candle pattern has formed, after which there is a probability of correction upwards, to the upper limit of the range. In case of breakdown, the upward movement to the key resistance level of 1357.64 will follow.