Crypto

XAU/USD Gold Price Forecast April 21, 2022

XAU/USD quotes continue to move within the framework of a strong fall and a bullish channel. At the time of the publication of the forecast, the price of Gold is 1949 Dollars per Troy Ounce. Moving averages indicate the presence of a short-term bullish trend. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of growth already from current levels. At the moment, we should expect an attempt to develop a decline and test the support level near the 1930 area. Where should we expect a rebound upwards and a continuation of the rise in the price of Gold with a potential target above the level of 2055.

XAU/USD Gold Price Forecast April 21, 2022

An additional signal in favor of the rise in XAU/USD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option to raise the price of Gold on April 21, 2022 will be a fall and a breakdown of the level of 1900. This will indicate a breakdown of the support area and a continuation of the fall to the area below the level of 1865. It is worth expecting an acceleration of the rise in XAU/USD quotes with a breakdown of the resistance area and closing the price above the level of 2015, which will indicate a breakdown of the upper limit of the bullish channel.

Thus, the XAU/USD Gold price forecast for April 21, 2022 suggests an attempt to test the support area near the level of 1930. Further, the continuation of the growth of quotations with a target above the level of 2055. Cancellation of the option to raise the price of Gold will be a fall in the value of the asset in the markets and a breakdown of the level of 1900 This will indicate a breakdown of the area of ​​decline in Gold. In this case, we should expect a continuation of the fall in the price of Gold with a potential target below the level of 1865.

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