GOLD is trading at 1316. XAU/USD is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in GOLD. Ichimoku Kinko Hyo Cloud is expected to test near the 1310 level, from which it is expected to rebound and continue the development of the upward trend in GOLD for the target of growth near the level of 1350.
GOLD prices forecast XAU/USD on January 12, 2018
Previously, a strong signal was obtained for buy of GOLD, by crossing the signal lines at 1315. Canceling the option the growth of GOLD quotations will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with a close below the area of 1295, indicating a change 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 upper limit of the model «Triangle» and the closure above the level of 1325.