Gold XAU/USD is trading at the level of 1268.18. Gold continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in GOLD. Ichimoku Kinko Hyo Cloud near the level of 1273.00 is expected to test the bottom of the cloud, from which one should expect an attempt to drop and develop the bearish trend for Gold with the first target near the level of 1247.00.
Gold price forecast XAU/USD on June 15, 2017
Earlier, we received a weak signal for the sale of Gold, due to the crossing of the signal lines at 1282.00. The cancellation of the variant of falling Gold quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1282.00, which will indicate the change of the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XAU/USD stands with the breakdown of the local minimum area at 1252.00.
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