GOLD is trading at 1310. XAU/USD is trading below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in GOLD. The Ichimoku Kinko Hyo signal line area test is expected near the level of 1315, 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 22, 2018
An additional signal in favor of the fall of XAU/USD will be a test of the upper limit of the downlink, as well as a resistance level test. 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.
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 1325, 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.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
