GOLD XAU/USD is trading at 1302. GOLD is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in GOLD. The Ichimoku Kinko Hyo signal line area test is expected near the level of 1290, from which it is expected to rebound and continue the development of the bullish trend in XAU/USD for the target of growth near the level of 1320.
GOLD prices forecast XAU/USD on January 2, 2018
An additional signal in favor of the growth of quotations will be the test of the lower boundary of the bullish channel. 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 1270, which indicates a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations XAU/USD is with the breakdown of the upper boundary of the channel and the closure above the level of 1315.