GOLD XAU/USD completes the trading week near the level of 1303. GOLD continues to trade within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend over Gold. Ichimoku Kinko Hyo Cloud near the level 1285 is expected to be tested, from which it is expected to attempt a growth with a target near the level of 1315. An additional signal in favor of the growth of quotations will be the test of the lower boundary of the bullish channel.
GOLD prices forecast XAU/USD on October 16 — 20, 2017
Earlier, we received a weak signal for the sell of Gold, due to the crossing of the signal lines at the level of 1315. The abolition of the growth of Gold quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 1260, indicating a change in the flat trend in favor of the bearish trend. Expect to accelerate the growth of quotations XAU/USD stands with a breakdown of the level of 1320, which indicates the resumption of the bullish trend.
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