GOLD XAU/USD is trading at 1281. GOLD continues to trade within the Ichimoku Kinko Hyo Cloud, which indicates a lateral trend over GOLD. The lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 1280, from which one should expect a rebound and further development of the bullish trend for gold with a target near the level of 1297. An additional signal in favor of growth will be a test of the support level.
GOLD prices forecast XAU/USD on October 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 1294. Canceling the growth of GOLD quotations will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 1273, indicating a change in the flat trend in favor of a bearish trend. Expect to accelerate the growth of quotations XAU/USD stands with the breakdown of the upper boundary of the Cloud Ichimoku Kinko Hyo and the closing above the level of 1300.
