GOLD is trading at 1342. XAU/USD is trading above the upper limit of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in GOLD. Ichimoku Kinko Hyo Cloud near the 1340 level is expected to be tested near the level of 1340, 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 1365. An additional signal in favor of the growth of quotations will be a test of the level of support.
GOLD prices forecast XAU/USD on January 31, 2018
Earlier, a weak signal was received for the sell of the GOLD, due to the crossing of the signal lines at the level of 1348. Canceling 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 1325, indicating a change 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 1360.
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