GOLD XAU/USD is trading at 1277. Gold continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in GOLD. Ichimoku Kinko Hyo Cloud near the level 1283 is expected to be tested near the level of 1283, from which it is expected to rebound and further develop the bearish trend for Gold with a view to falling near the level of 1260.
GOLD prices forecast XAU/USD on October 26, 2017
Earlier, a weak signal was received for the sell of Gold, by crossing the signal lines at 1294. Canceling the option the drop in Gold quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with a close above the area of 1290, 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 a breakdown of the level of 1270.