GOLD XAU/USD is trading at 1289. Gold continues to trade within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend for GOLD. The lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 1284, from which one should expect a rebound and further development of the bullish trend for Gold with a target near the level of 1300.
GOLD prices forecast XAU/USD on October 23, 2017
Earlier, a weak signal was received for sell GOLD, by crossing the signal lines at 1294. Canceling the growth of quotations GOLD will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 1275, 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.