GOLD is trading at 1320. XAU/USD is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in GOLD. Ichimoku Kinko Hyo signal line area test is near the level of 1318, from which it is expected to rebound and continue the development of the bullish trend in GOLD for the target of growth near the level of 1350. An additional signal in favor of rising gold prices will be a test of the lower boundary of the bullish channel.
GOLD prices forecast XAU/USD on January 10, 2018
Earlier, we received a weak signal for buy of GOLD, due to the crossing of signal lines at the level of 1245. The abolition of the growth of Gold quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with a closing below the area of 1295, which will indicate 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 upper boundary of the channel and the closing above the level of 1330.