GOLD is trading at 1316. XAU/USD is trading below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in gold. Ichimoku Kinko Hyo Cloud near the 1320 level is expected to be tested near the 1320 level, from which it is expected to rebound and continue the development of a bearish trend in Gold with a target to falling near the level of 1295.
GOLD prices forecast XAU/USD on March 21, 2018
An additional signal in favor of the fall of XAU/USD will be the test of the upper boundary of the bearish channel. Earlier, a signal of medium strength was obtained for the sell of GOLD, due to the crossing of signal lines at the level of 1320.
The cancellation of the variant of falling Gold quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with a close above the area of 1330, which will indicate 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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