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. The Ichimoku Kinko Hyo signal line area test is expected near the level of 1325, 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 5, 2018
An additional signal in favor of the fall of XAU/USD will be a test of the lower border of the channel, as well as a resistance level test. 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 1300.
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