GOLD is trading at 1317. XAU/USD is trading below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in GOLD. Ichimoku Kinko Hyo signal line area test is near the level of 1325, from which it is expected to rebound and continue the development of the downward trend for Gold with a target to falling near the level of 1300. An additional signal in favor of the fall of XAU/USD will be the test of the lower boundary of the bullish channel.
GOLD prices forecast XAU/USD on March 1, 2018
Earlier, a strong signal was received for the sell of GOLD, due to the crossing of signal lines at the level of 1330. Canceling the option of dropping GOLD quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with a close above the area of 1345, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XAU/USD is with the breakdown of the support area and closing below the level of 1305.
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