Main scenario:
Gold is trading along a downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1277, which will be followed by reaching support level 1261 and if it keeps on moving down below that level, we may expect the pair to reach support level 1252.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1277, which will be followed by moving up to resistance level 1291.
Previous forecast:
Weekly Forecast: 16 - 20 June
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue while pair is trading above support level 1269, which will be followed by reaching resistance level 1291 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1303 and 1316.
Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1269, which will be followed by moving down to support level 1250.
Previous forecast:
Monthly forecast, June - July (updated 06/02/14)
Main scenario:
The pair is trading along a sideways trend.
An uptrend will start as soon as the pair rises above resistance level 1325, which will be followed by moving up to resistance level 1355 and then 1382.
Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1284, which will be followed by moving down to support level 1242 and then to 1182.
Previous forecast:
Long-Term Forecast: May - August
Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1560, which will be followed by reaching support level 1182 and then to 975 - 878.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1560, which will be followed by moving up to resistance level 1747 and then to 2000.