GOLD is trading at 1326. 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 1328 level is expected to be near the level of 1328, 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 1305.
GOLD prices forecast XAU/USD on March 6, 2018
An additional signal in favor of the fall of XAU/USD will be the test of 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.
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 1340, 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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