GOLD is trading at 1331. XAU/USD is trading below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in GOLD. Ichimoku Kinko Hyo Cloud is expected to test near the 1335 level, from which it is expected to rebound and continue the development of a bearish trend in GOLD for a fall near the 1300 level. An additional signal in favor of the fall of the pair is the resistance level test.
GOLD prices forecast XAU/USD on February 26, 2018
Earlier, a weak signal was received for the sell of Gold, due to the crossing of signal lines at the level of 1340. Canceling the option of dropping Gold quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with a close above the area of 1345, indicating a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XAU/USD stands with the breakdown of the bottom of the bullish channel and closing below the level of 1310.
