http://forexmillion.com/ ru FOREXMILLION - forex forecast, trading signals DataLife Engine http://forexmillion.com/forex-forecast/gold/522-gold-forecast.html http://forexmillion.com/forex-forecast/gold/522-gold-forecast.html Today chart Current trend is descending with target on the level 1238. Upward trend can start its development in a case of the pair movement higher the level of 1255, after that the arrival on the resistance level of 1280 will happen. Supports: 1238 Ressitances: 1249, 1252, 1255 Forecast of the week, 08/30–09/03 Last week the gold failed getting above key resistance level 1242, which gives a chance to develop a downtrend this week under condition that the market goes below support 1231, and then also below level 1220, which will clear the way down for the gold to support level 1191. Besides, there is a certain possibility of uptrend development, which will start in case the market rises above resistance level 1242, and which will be followed by moving up to resistance level 1255. If it will keep on rising above that level, it will get to resistance 1270. Forecast monthly, September The gold is trading within the “B-B+” uptrend’s boundaries, however it failed getting above key resistance level 1242, which gives a chance to develop a downtrend under condition that the market drops below level 1220. If so, it will then head to support levels 1191–1180. Uptrend will resume in case the gold rises above resistance 1242, which will be followed by moving up to resistance 1255. If the gold will keep on rising above that level, it will get to resistance 1278.   Forecast quarterly, August–October At this moment we can observe the “D-D+” uptrend’s completion, as the market breaks its boundary, and the 5th wave of this trend has been completed as well. Starting of a downtrend will be confirmed if the market drops below level 1170, after which we may expect the gold to move down along the “a” wave to level 1115 / 1090 (green sideways trend’s lower bound). That level is likely to offer a decent support, which will be followed by forming of the “b” correctional wave towards level 1177 / 1090. Then the downtrend development will be resumed within the “c” wave having the downside target set at level 970 (the “G-G+” trend’s lower bound). GOLD Kolganov Anton Thu, 02 Sep 2010 12:08:44 +0300 http://forexmillion.com/forex-forecast/gbp-usd/521-gbpusd-forecast.html http://forexmillion.com/forex-forecast/gbp-usd/521-gbpusd-forecast.html Today chart Current trend is ascending. Upward trend can start its development ftom current levels and in a case if the pair movement higher the level of 1.5450, after that the arrival on the resistance level of 1.5525 will happen. Downtrend can start its development in a case if the pair movement lower the level of 1.5380, after that the arrival on the support level of 1.5310 will happen. Supports: 1.5400, 1.5310 Ressitances: 1.5525 Forecast of the week, 08/30–09/03 The pair is striving to quit the “a-a+” downtrend’s boundaries. But while the trading goes on below resistance 1.5560, downtrend persists and uptrend is blocked. Current downside target is set at intermediate support 1.5405, and if the pair drops below that support, the downside momentum will grow stronger and the next downside target will be set at support 1.5195. It is worth expecting uptrend to develop under condition that the pair rises above resistance level 1.5660, which will be followed by moving up to resistance 1.5880. Forecast monthly, September The pair is trading outside the “B-B+” uptrend, which speaks about downtrend development with the downside target set at support level 1.5195. This downtrend will keep its potential as long as the pair is trading below resistance level 1.5660. In case it rises above level 1.5660, an uptrend will start with the upside target set at intermediate resistance 1.5880. If the pair also goes above that level, it will reach key resistance 1.6340.   Forecast quarterly, August–October After the pair rose above level 1.5400 it quit from the “E-E+” downtrend. At this moment an uptrend is being developed with the upside target set at resistance levels 1.6420–1.6850. This trend is supposed to evolve within the “a” upside wave with the upside target set at resistance level 1.5895, next within the “b” wave with the downside target set at support level 1.5050 and finally within the “c” wave with the upside target set at destination levels 1.6420–1.6850. If the market keeps on rising above level 1.6850, a “double bottom” figure will be formed and the upside momentum will grow stronger, which will set the next upside target at resistance level 1.8530, and then at 1.9800 (just a prospective). Otherwise, if the pair fails rising above level 1.6850, it will start developing sideways trend in a form of “triangle” figure. Then the downside wave will start within that trend having the downside target set at level 1.4600.   Yearly forecast, 2010 – 2011. After touching key support level 1.4260 the pair is trading along a downtrend. If the market rises above level 1.5450, support level 1.4260 may become the starting point of an uptrend (taking into consideration the picture at weekly graph), and then the pair will get to key resistance 1.6900. A confident uptrend will be started as soon as the pair gets over that key resistance. In such case a “double bottom” trend-turning figure will be formed and the upside target will be set at intermediate resistance level 1.8530 (possibly accompanied by a correction to support 1.6900). If the market continues the upside after that, it will eventually find itself around key resistance 1.9800. Otherwise, if the pair continues going down below key support 1.4260 and gets under level 1.4100, the downtrend will be resumed with the drop target set at intermediate support 1.3690. If the market continues the downside below that support, next target will be seen at support level 1.3230. That level is a strong support, however if the pair manages going under it, the downside momentum will grow even stronger, and the pair will eventually get to level 1.0000. GBP/USD Kolganov Anton Thu, 02 Sep 2010 12:05:32 +0300 http://forexmillion.com/forex-forecast/eur-usd/520-eurusd-forecast.html http://forexmillion.com/forex-forecast/eur-usd/520-eurusd-forecast.html Today chart Current trend is ascending. Upward trend can start its development from support level 1.2750 and from current level, after that the arrival on the resistance level of 1.2890 and 1.2970 will happen. Supports: 1.2750 Ressitances: 1.2890, 1.2970 Forecast of the week, 08/30–09/03 The pair is trading around key resistance level 1.2750 within the “a-a+” downtrend. As long as it is staying below level 1.2750, the “a-a+” channel has a chance to resume downtrend; and the downtrend will grow stronger in case the pair drops below level 1.2655, which will be followed by moving down to support level 1.2430. Otherwise, an uptrend will be started if the pair rises above level 1.2810, which will be followed by moving up to resistance level 1.2890. If the upside persists above that level, the pair will then strive to reach resistance 1.3150. Forecast monthly, September While the pair is trading under key resistance level 1.2750 (the neckline of “head and shoulders” figure from monthly graph), downtrend development persists and the next downside target is seen at support cloud 1.2430–1.2315. Key support is located at level 1.2220, and in case the pair drops below that support, downtrend will resume with the downside target set at support level 1.1700. Basically, it’s worth expecting the pair to turn from levels 1.2430–1.2315, which will be followed by the upside towards levels 1.2750 and 1.3150. Otherwise, an uptrend will start in case the pair rises above level 1.2810. If so, the market’s upside targets will be set at intermediate resistance level 1.3150, then at 1.3290 and finally at major resistance 1.3615, which is the uptrend’s target level.   Forecast quarterly, August–October After the pair rose above level 1.2760 (quit from the “F-F+” downtrend), it is now trading along an uptrend (the “a” wave) having the upside target seen at resistance cloud around 1.3425–1.3620. We may expect the “b” downside correctional wave to begin from those levels with the target set at key support levels 1.2760–1.2600. After the pair gets to those levels, there will be 2 variants of events to proceed: 1. If levels stated grant a decent support, the “c” upside wave will start with the target set at resistance level 1.4450. 2. If the pair drops below level 1.2600, a downtrend will start having the downside target seen at level 1.1650. * To get an idea about turning levels for the waves mentioned, see monthly and weekly forecasts.   Yearly forecast, 2010 – 2011. The pair dropped below level 1.2700, where the neckline of a “head and shoulders” trend-turning figure resided. That caused the downside momentum to grow stronger. The drop target is currently seen around 0.9890 – 1.0200. Current downtrend is in effect until the pair rises above 1.3100. Intermediate resistances are currently seen at levels 1.1655 and 1.000. The figure will be cancelled and an uptrend will be started in case the pair rises above 1.3100. Then the upside target will be set at resistance level 1.4630.   EUR/USD Kolganov Anton Thu, 02 Sep 2010 12:01:00 +0300 http://forexmillion.com/forex-forecast/gold/519-gold-forecast.html http://forexmillion.com/forex-forecast/gold/519-gold-forecast.html Today chart Current trend is sideways. Upward trend can start its development in a case of the pair movement higher the level of 1242, after that the arrival on the resistance level of 1255 will happen. Downtrend can start its development in a case of the pair movement lower the level of 1233, after that the arrival on the support level of 1224 and 1218 will happen. Supports: 1233, 1224, 1218 Ressitances: 1242, 1255 Forecast of the week, 08/23–08/27 The gold is still trading around resistance levels 1228–1233, being in the process of formation of “head and shoulders” figure. The neckline of this figure passes at level 1221; and so as soon as the market gets under this level, a downtrend will start with the downside target set at support level 1204. If the gold then goes below that level, we may expect it to get to support 1180. Otherwise, an uptrend may be expected to develop in case the market rises above resistance level 1233, which will be followed by moving up to resistance 1255. If the gold keeps on rising above that resistance, the next one will be found at mark 1280.  Forecast monthly, August. The gold has quit from the “F-F+” uptrend, and now we can observe development of the “B-B+” downtrend with the downside target set at support level 1115 / 1090. Intermediate supports are located at levels 1161 and 1135. The “B-B+” trend development is accompanied by breaking of the “D-D+” uptrend’s lower bound, which may prove to be a false break in case the market will fail holding ground below level 1198 and rises higher. That will provoke development of an uptrend with the upside target set at resistance level 1233 / 42.   Forecast quarterly, August–October At this moment we can observe the “D-D+” uptrend’s completion, as the market breaks its boundary, and the 5th wave of this trend has been completed as well. Starting of a downtrend will be confirmed if the market drops below level 1170, after which we may expect the gold to move down along the “a” wave to level 1115 / 1090 (green sideways trend’s lower bound). That level is likely to offer a decent support, which will be followed by forming of the “b” correctional wave towards level 1177 / 1090. Then the downtrend development will be resumed within the “c” wave having the downside target set at level 970 (the “G-G+” trend’s lower bound). GOLD Kolganov Anton Fri, 27 Aug 2010 12:31:45 +0300 http://forexmillion.com/forex-forecast/gbp-usd/518-gbpusd-forecast.html http://forexmillion.com/forex-forecast/gbp-usd/518-gbpusd-forecast.html Today chart Current trend is descending. Upward trend can start its development in a case of the pair movement higher the level of 1.5560, after that the arrival on the resistance level of 1.5660 will happen. Downtrend can start its development from this levels with target on 1.5400. Supports: 1.5465, 1.5400 Ressitances: 1.5560, 1.5660 Forecast of the week, 08/23–08/27 Last week the pair quit from the “B-B+” uptrend, which caused the downtrend to develop with the downside target set at support level 1.5285. As long as the pair is trading below level 1.5670, downtrend is in effect. Nearest support is located at level 1.5450, and the next one is at 1.5285. Possibility of reaching support 1.5195 can’t be excluded as well. Otherwise, an uptrend will be started in case the pair rises above level 1.5670, which will be followed by moving up to resistance level 1.5880. Forecast monthly, August. The pair is trading along the “B-B+” uptrend (the “a” wave) having the upside target seen at resistance level 1.5895. In case it rises above level 1.6000, the uptrend will resume and the next upside target will be set at resistance level 1.6400. Yet for the time being we may expect the trend to turn from level 1.5895 as the “b” downside correctional wave goes in under condition that the pair drops below level 1.5448, which will be followed by moving down to support level 1.5050. After the pair gets to that level we may expect the uptrend to resume as the “c” wave goes in with the upside target set at resistance 1.6200.   Forecast quarterly, August–October After the pair rose above level 1.5400 it quit from the “E-E+” downtrend. At this moment an uptrend is being developed with the upside target set at resistance levels 1.6420–1.6850. This trend is supposed to evolve within the “a” upside wave with the upside target set at resistance level 1.5895, next within the “b” wave with the downside target set at support level 1.5050 and finally within the “c” wave with the upside target set at destination levels 1.6420–1.6850. If the market keeps on rising above level 1.6850, a “double bottom” figure will be formed and the upside momentum will grow stronger, which will set the next upside target at resistance level 1.8530, and then at 1.9800 (just a prospective). Otherwise, if the pair fails rising above level 1.6850, it will start developing sideways trend in a form of “triangle” figure. Then the downside wave will start within that trend having the downside target set at level 1.4600.   Yearly forecast, 2010 – 2011. After touching key support level 1.4260 the pair is trading along a downtrend. If the market rises above level 1.5450, support level 1.4260 may become the starting point of an uptrend (taking into consideration the picture at weekly graph), and then the pair will get to key resistance 1.6900. A confident uptrend will be started as soon as the pair gets over that key resistance. In such case a “double bottom” trend-turning figure will be formed and the upside target will be set at intermediate resistance level 1.8530 (possibly accompanied by a correction to support 1.6900). If the market continues the upside after that, it will eventually find itself around key resistance 1.9800. Otherwise, if the pair continues going down below key support 1.4260 and gets under level 1.4100, the downtrend will be resumed with the drop target set at intermediate support 1.3690. If the market continues the downside below that support, next target will be seen at support level 1.3230. That level is a strong support, however if the pair manages going under it, the downside momentum will grow even stronger, and the pair will eventually get to level 1.0000. GBP/USD Kolganov Anton Fri, 27 Aug 2010 12:30:16 +0300 http://forexmillion.com/forex-forecast/eur-usd/517-eurusd-forecast.html http://forexmillion.com/forex-forecast/eur-usd/517-eurusd-forecast.html Today chart Current trend is sideways. Upward trend can start its development in a case of the pair movement higher the level of 1.790, after that the arrival on the resistance level of 1.2890 will happen. Downtrend can start its development from this levels with target on 1.2655 and in a case of the pair movement lower the level of 1.2655, after that the arrival on the support level of 1.2500 will happen. Supports: 1.2655, 1.2500 Ressitances: 1.2750, 1.2790, 1.2890 Forecast of the week, 08/23–08/27 The pair is trading along the “a-a+” downtrend. Now it is located below key resistance 1.2750 (the neckline of “head and shoulders” figure from monthly graph), which is in favor of further downtrend development with the downside targets set at support 1.2430 and probably at 1.2300. Intermediate support is found at level 1.2590. An uptrend should not be expected to start unless the pair rises above level 1.2890. If that happens, the market will then get to resistance level 1.3150. The following stronger resistance will be found at mark 1.3305. Forecast monthly, August The pair is trading within the “C-C+” uptrend in the 5th wave, having the upside target seen at resistance cloud around levels 1.3425 and 1.3620. However, this trend may be completed at level 1.3305 as well. Anyway, as soon as the market reaches either stated level, a correction is supposed to start, which will cause the uptrend to continue (which is least probable) or a downtrend to begin development in case the pair drops below level 1.3180. After that the market will head to key support level 1.2770.   Forecast quarterly, August–October After the pair rose above level 1.2760 (quit from the “F-F+” downtrend), it is now trading along an uptrend (the “a” wave) having the upside target seen at resistance cloud around 1.3425–1.3620. We may expect the “b” downside correctional wave to begin from those levels with the target set at key support levels 1.2760–1.2600. After the pair gets to those levels, there will be 2 variants of events to proceed: 1. If levels stated grant a decent support, the “c” upside wave will start with the target set at resistance level 1.4450. 2. If the pair drops below level 1.2600, a downtrend will start having the downside target seen at level 1.1650. * To get an idea about turning levels for the waves mentioned, see monthly and weekly forecasts.   Yearly forecast, 2010 – 2011. The pair dropped below level 1.2700, where the neckline of a “head and shoulders” trend-turning figure resided. That caused the downside momentum to grow stronger. The drop target is currently seen around 0.9890 – 1.0200. Current downtrend is in effect until the pair rises above 1.3100. Intermediate resistances are currently seen at levels 1.1655 and 1.000. The figure will be cancelled and an uptrend will be started in case the pair rises above 1.3100. Then the upside target will be set at resistance level 1.4630.   EUR/USD Kolganov Anton Fri, 27 Aug 2010 12:28:34 +0300 http://forexmillion.com/forex-forecast/gold/516-gold-forecast.html http://forexmillion.com/forex-forecast/gold/516-gold-forecast.html Today chart Current trend is ascending. Upward trend can start its development in a case of the pair movement higher the level of 1242, after that the arrival on the resistance level of 1255 and 1255 will happen. Downtrend can start its development in a case of the pair movement lower the level of 1233, after that the arrival on the support level of 1224 will happen. Supports: 1233, 1224, 1213 Ressitances: 1242, 1255 Forecast of the week, 08/23–08/27 The gold is still trading around resistance levels 1228–1233, being in the process of formation of “head and shoulders” figure. The neckline of this figure passes at level 1221; and so as soon as the market gets under this level, a downtrend will start with the downside target set at support level 1204. If the gold then goes below that level, we may expect it to get to support 1180. Otherwise, an uptrend may be expected to develop in case the market rises above resistance level 1233, which will be followed by moving up to resistance 1255. If the gold keeps on rising above that resistance, the next one will be found at mark 1280.  Forecast monthly, August. The gold has quit from the “F-F+” uptrend, and now we can observe development of the “B-B+” downtrend with the downside target set at support level 1115 / 1090. Intermediate supports are located at levels 1161 and 1135. The “B-B+” trend development is accompanied by breaking of the “D-D+” uptrend’s lower bound, which may prove to be a false break in case the market will fail holding ground below level 1198 and rises higher. That will provoke development of an uptrend with the upside target set at resistance level 1233 / 42.   Forecast quarterly, August–October At this moment we can observe the “D-D+” uptrend’s completion, as the market breaks its boundary, and the 5th wave of this trend has been completed as well. Starting of a downtrend will be confirmed if the market drops below level 1170, after which we may expect the gold to move down along the “a” wave to level 1115 / 1090 (green sideways trend’s lower bound). That level is likely to offer a decent support, which will be followed by forming of the “b” correctional wave towards level 1177 / 1090. Then the downtrend development will be resumed within the “c” wave having the downside target set at level 970 (the “G-G+” trend’s lower bound). GOLD Kolganov Anton Thu, 26 Aug 2010 11:12:43 +0300 http://forexmillion.com/forex-forecast/gbp-usd/515-gbpusd-forecast.html http://forexmillion.com/forex-forecast/gbp-usd/515-gbpusd-forecast.html Today chart Current trend is ascending. Upward trend can start its development in a case of the pair movement higher the level of 1.5570, after that the arrival on the resistance level of 1.5660 will happen. Downtrend can start its development from this levels with target on 1.5470 and in a case of the pair movement lower the level of 1.5470, after that the arrival on the support level of 1.5300 will happen. Supports: 1.5470, 1.5300 Ressitances: 1.5570, 1.5660 Forecast of the week, 08/23–08/27 Last week the pair quit from the “B-B+” uptrend, which caused the downtrend to develop with the downside target set at support level 1.5285. As long as the pair is trading below level 1.5670, downtrend is in effect. Nearest support is located at level 1.5450, and the next one is at 1.5285. Possibility of reaching support 1.5195 can’t be excluded as well. Otherwise, an uptrend will be started in case the pair rises above level 1.5670, which will be followed by moving up to resistance level 1.5880. Forecast monthly, August. The pair is trading along the “B-B+” uptrend (the “a” wave) having the upside target seen at resistance level 1.5895. In case it rises above level 1.6000, the uptrend will resume and the next upside target will be set at resistance level 1.6400. Yet for the time being we may expect the trend to turn from level 1.5895 as the “b” downside correctional wave goes in under condition that the pair drops below level 1.5448, which will be followed by moving down to support level 1.5050. After the pair gets to that level we may expect the uptrend to resume as the “c” wave goes in with the upside target set at resistance 1.6200.   Forecast quarterly, August–October After the pair rose above level 1.5400 it quit from the “E-E+” downtrend. At this moment an uptrend is being developed with the upside target set at resistance levels 1.6420–1.6850. This trend is supposed to evolve within the “a” upside wave with the upside target set at resistance level 1.5895, next within the “b” wave with the downside target set at support level 1.5050 and finally within the “c” wave with the upside target set at destination levels 1.6420–1.6850. If the market keeps on rising above level 1.6850, a “double bottom” figure will be formed and the upside momentum will grow stronger, which will set the next upside target at resistance level 1.8530, and then at 1.9800 (just a prospective). Otherwise, if the pair fails rising above level 1.6850, it will start developing sideways trend in a form of “triangle” figure. Then the downside wave will start within that trend having the downside target set at level 1.4600.   Yearly forecast, 2010 – 2011. After touching key support level 1.4260 the pair is trading along a downtrend. If the market rises above level 1.5450, support level 1.4260 may become the starting point of an uptrend (taking into consideration the picture at weekly graph), and then the pair will get to key resistance 1.6900. A confident uptrend will be started as soon as the pair gets over that key resistance. In such case a “double bottom” trend-turning figure will be formed and the upside target will be set at intermediate resistance level 1.8530 (possibly accompanied by a correction to support 1.6900). If the market continues the upside after that, it will eventually find itself around key resistance 1.9800. Otherwise, if the pair continues going down below key support 1.4260 and gets under level 1.4100, the downtrend will be resumed with the drop target set at intermediate support 1.3690. If the market continues the downside below that support, next target will be seen at support level 1.3230. That level is a strong support, however if the pair manages going under it, the downside momentum will grow even stronger, and the pair will eventually get to level 1.0000. GBP/USD Kolganov Anton Thu, 26 Aug 2010 11:11:15 +0300 http://forexmillion.com/forex-forecast/eur-usd/514-eurusd-forecast.html http://forexmillion.com/forex-forecast/eur-usd/514-eurusd-forecast.html Today chart Current trend is ascending. Upward trend can start its development in a case of the pair movement higher the level of 1.2805, after that the arrival on the resistance level of 1.2890 and 1.2890 will happen. Downtrend can start its development from this levels with target on 1.2640 and in a case of the pair movement lower the level of 1.2640, after that the arrival on the support level of 1.2500 will happen. Supports: 1.2640, 1.2500 Ressitances: 1.2750, 1.2805, 1.2890 Forecast of the week, 08/23–08/27 The pair is trading along the “a-a+” downtrend. Now it is located below key resistance 1.2750 (the neckline of “head and shoulders” figure from monthly graph), which is in favor of further downtrend development with the downside targets set at support 1.2430 and probably at 1.2300. Intermediate support is found at level 1.2590. An uptrend should not be expected to start unless the pair rises above level 1.2890. If that happens, the market will then get to resistance level 1.3150. The following stronger resistance will be found at mark 1.3305. Forecast monthly, August The pair is trading within the “C-C+” uptrend in the 5th wave, having the upside target seen at resistance cloud around levels 1.3425 and 1.3620. However, this trend may be completed at level 1.3305 as well. Anyway, as soon as the market reaches either stated level, a correction is supposed to start, which will cause the uptrend to continue (which is least probable) or a downtrend to begin development in case the pair drops below level 1.3180. After that the market will head to key support level 1.2770.   Forecast quarterly, August–October After the pair rose above level 1.2760 (quit from the “F-F+” downtrend), it is now trading along an uptrend (the “a” wave) having the upside target seen at resistance cloud around 1.3425–1.3620. We may expect the “b” downside correctional wave to begin from those levels with the target set at key support levels 1.2760–1.2600. After the pair gets to those levels, there will be 2 variants of events to proceed: 1. If levels stated grant a decent support, the “c” upside wave will start with the target set at resistance level 1.4450. 2. If the pair drops below level 1.2600, a downtrend will start having the downside target seen at level 1.1650. * To get an idea about turning levels for the waves mentioned, see monthly and weekly forecasts.   Yearly forecast, 2010 – 2011. The pair dropped below level 1.2700, where the neckline of a “head and shoulders” trend-turning figure resided. That caused the downside momentum to grow stronger. The drop target is currently seen around 0.9890 – 1.0200. Current downtrend is in effect until the pair rises above 1.3100. Intermediate resistances are currently seen at levels 1.1655 and 1.000. The figure will be cancelled and an uptrend will be started in case the pair rises above 1.3100. Then the upside target will be set at resistance level 1.4630.   EUR/USD Kolganov Anton Thu, 26 Aug 2010 11:09:29 +0300 http://forexmillion.com/forex-forecast/gold/513-gold-forecast.html http://forexmillion.com/forex-forecast/gold/513-gold-forecast.html Today chart Current trend is upward. Upward trend can start its development in a case of the pair movement higher the level of 1236.50, after that the arrival on the resistance level of 1242 and 1255 will happen. Downtrend can start its development in a case of the pair movement lower the level of 1224.50, after that the arrival on the support level of 1213 will happen. Supports: 1224.50, 1213 Ressitances: 1236.50, 1242, 1255 Forecast of the week, 08/23–08/27 The gold is still trading around resistance levels 1228–1233, being in the process of formation of “head and shoulders” figure. The neckline of this figure passes at level 1221; and so as soon as the market gets under this level, a downtrend will start with the downside target set at support level 1204. If the gold then goes below that level, we may expect it to get to support 1180. Otherwise, an uptrend may be expected to develop in case the market rises above resistance level 1233, which will be followed by moving up to resistance 1255. If the gold keeps on rising above that resistance, the next one will be found at mark 1280.  Forecast monthly, August. The gold has quit from the “F-F+” uptrend, and now we can observe development of the “B-B+” downtrend with the downside target set at support level 1115 / 1090. Intermediate supports are located at levels 1161 and 1135. The “B-B+” trend development is accompanied by breaking of the “D-D+” uptrend’s lower bound, which may prove to be a false break in case the market will fail holding ground below level 1198 and rises higher. That will provoke development of an uptrend with the upside target set at resistance level 1233 / 42.   Forecast quarterly, August–October At this moment we can observe the “D-D+” uptrend’s completion, as the market breaks its boundary, and the 5th wave of this trend has been completed as well. Starting of a downtrend will be confirmed if the market drops below level 1170, after which we may expect the gold to move down along the “a” wave to level 1115 / 1090 (green sideways trend’s lower bound). That level is likely to offer a decent support, which will be followed by forming of the “b” correctional wave towards level 1177 / 1090. Then the downtrend development will be resumed within the “c” wave having the downside target set at level 970 (the “G-G+” trend’s lower bound). GOLD Kolganov Anton Wed, 25 Aug 2010 12:19:01 +0300