GOLD is trading at 1340. XAU/USD is trading above the upper boundary of the Cloud Ichimoku Kinko Hyo, indicating that there is a bullish trend in gold. The Ichimoku Kinko Hyo signal line area test is expected near the 1330 level, from which it is expected to rebound and continue the development of the bullish trend for GOLD with a target to rising near the level of 1355.
GOLD prices forecast XAU/USD on January 17, 2018
An additional signal in favor of growth will be a test of the support level. Earlier, a strong signal was received for the buy of GOLD, due to the crossing of signal lines at 1315. The cancellation of the growth of Gold quotations will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with a close below area 1305, 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 a breakdown of the level of 1350.
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