GOLD is trading at 1355. 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 1345, 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 1385. An additional signal in favor of the growth of quotations will test the level of support.
GOLD prices forecast XAU/USD on January 29, 2018
Previously, a strong signal was obtained for the buy of GOLD, due to the crossing of the signal lines at the level of 1333.
The cancellation of the growth of GOLD quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with a close below the area of 1325, which will indicate a change 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 bullish channel and the closing above the level of 1370.
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