GOLD is trading at 1322. XAU/USD is traded within the Ichimoku Kinko Hyo Cloud, indicating a flat trend over GOLD. Ichimoku Kinko Hyo Cloud is expected to test near the 1320 level, from which it is expected to rebound and continue the development of the bullish trend for GOLD with a target to growth near the level of 1350.
GOLD prices forecast XAU/USD on March 12, 2018
An additional signal in favor of XAU/USD growth will be a test of the support level, as well as the formation of the «Head and Shoulders» reversal model. Earlier, we received a weak signal for the sell of GOLD, due to the crossing of the signal lines at the level of 1328.
Canceling the growth option for GOLD quotes will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with a close below area 1310, which indicates a change in the flat trend in favor of a bearish trend. Expect to accelerate the growth of quotations XAU/USD stands with the breakdown of the resistance area and closing above the level of 1345.
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