Gold XAU/USD is trading at the level of 1219.88. Gold continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in gold. XAU/USD is expected to rise near the level of 1231.00, from which one should expect an attempt to fall and further develop the bearish trend for GOLD with a target to lower near the level of 1199.00.
GOLD prices forecast XAU/USD on July 5, 2017
Earlier, a strong signal was received for the sale of Gold, due to the intersection of the signal lines at the level of 1245.50. The cancellation of the variant of falling Gold quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1248.00, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XAU/USD stands with the breakdown of the local minimum area at 1207.00.
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