23, August 2016

XAU/USD (a 4-hour chart)

General review

Amid US dollar gains, the gold price have made an attempt to exit dawnward from the medium-term channel 1.1336-1.1358.

Current situation

Gold is testing the lower boundary of the medium channel at 1336,

Trading recommendations

The development of a downward movement is likely if the market close below 1.1333-1.1336. However, we expect a short-term return of into the designated channel on technical factors.