GOLD is trading at 1323. XAU/USD is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in 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 in GOLD for the target of growth near the level of 1345.
GOLD prices forecast XAU/USD on March 13, 2018
An additional signal in favor of the growth of XAU/USD will be a test of the level of support. 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 bullish trend in favor of the 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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