How low can Gold fall for OANDA:XAUUSD by Predictors — NewsOfFinance

Gold is trying to hold above the 50-month average of 1671. If it holds here, the first resistance will be 1783 on the 20-month average. If it can’t hold on to the 50-month average, the $1600 ichimoku I wait for the cloud to return from its base. I think $1600 is very strong support as the base of the cloud is flat. Below this, there are 1560 fibonacci support and 1516 supports on a 100-month average. When the Fed raises interest rates to 4 percent, I expect that they will expect the rate hike to reduce inflation for a while and keep the rates constant there. If this scenario happens, I expect a rally to $2300 under it. ytd
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