GOLD XAU/USD finished the trading month at the level of 1266.42. Gold broke through the Ichimoku Kinko Hyo Cloud and began to trade above its upper limit, which indicates an bullish trend in Gold. The Ichimoku Kinko Hyo Cloud upper boundary test is expected near the level of 1251.00, from which one should expect an attempt to grow and develop the bullish trend for GOLD with a target to rising near the level of 1327.00.
GOLD price forecast XAU/USD for August 2017
Earlier, a signal of medium strength was obtained for GOLD buying, due to intersection of the signal lines at the level of 1233.40. 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 1200.00 area, which will indicate a change 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 1314.00.