GOLD is trading at 1320. XAU/USD is trading below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in GOLD. Ichimoku Kinko Hyo Cloud near the level 1325 is expected to be tested near the level of 1325, from which it is expected to rebound and continue the development of a bearish trend in GOLD with a view to falling near the level of 1300. In favor of the fall is the formation of the reversal model «Head and Shoulders».
GOLD prices forecast XAU/USD on February 8, 2018
Previously, a strong signal was received for the sell of GOLD, due to the crossing of the signal lines at the level of 1337. Canceling the option of dropping XAU/USD quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with a close above the area of 1350, which indicates a change in the bearish trend in favor of a bullish trend and the reversal of the reversal pattern. Expect to accelerate the fall in quotations XAU/USD is with a breakdown of the level of 1315.
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