Gold XAU/USD is trading at the level of 1268.17. GOLD continues to trade above the upper boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of an bullish trend in GOLD. Gold prices are expected to drop to the level of 1261.00, from which one should expect an attempt of growth and further development of the bullish trend for Gold with the target of growth near the level of 1282.00.
GOLD prices forecast XAU/USD on August 1, 2017
Earlier, a strong signal was received for the buying of Gold, due to the crossing of the signal lines at the level of 1254.00. Canceling the growth of Gold quotations will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 1250.00, 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 the level of 1278.00.
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