Gold XAU/USD is trading at the level of 1272.62. 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 limit test is expected near the level of 1265.00, 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 1289.00.
GOLD prices forecast XAU/USD on August 10, 2017
Earlier, a signal of medium strength for buying GOLD was obtained, due to the crossing of the signal lines at the level of 1262.00. 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 quotations below the area of 1254.00, which will indicate a change 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 1284.00.
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