Gold XAU/USD completes the trading week at the level of 1267.20. Gold broke through Ichimoku Kinko Hyo Cloud and began to bargain above its upper limit, indicating an bullish trend in GOLD. Ichimoku Kinko Hyo Cloud Upper Test is expected near the level of 1263.00, from which one should expect an attempt of growth and further development of the bullish trend with the target of growth near the level of 1314.00.
GOLD forecast XAU/USD on July 31 — August 4, 2017
Earlier, we received a weak signal for buying of GOLD, due to the crossing of signal lines at the level of 1235.43. The cancellation of the growth of GOLD quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 1223.00, indicating a shift in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations XAU/USD stands with the breakdown of the local maximum area at 1302.00.
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