Gold XAU/USD is trading at the level of 1276.33. Gold continues to trade above the upper boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of an bullish trend in GOLD. Ichimoku Kinko Hyo Cloud near the level of 1271.00 is expected to test the upper boundary of the Cloud, from which one should expect an attempt of growth and development of the bullish trend on Gold near the level of 1305.00.
Gold price forecast XAU/USD on June 9, 2017
Earlier, a strong signal was received for the buying of GOLD, due to the crossing of the signal lines at the level of 1267.00. Canceling the growth of Gold quotes will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 1264.00, indicating a shift in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations XAU/USD stands with the breakdown of the local maximum area at the level of 1299.00.
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