GOLD XAU/USD is trading at 1268. GOLD continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in GOLD. Ichimoku Kinko Hyo signal line area test is near the level of 1273, from which it is expected to rebound and further development of the bearish trend for Gold to fall near the level of 1250.
GOLD prices forecast XAU/USD on October 30, 2017
Earlier, we received a weak signal for sell GOLD, due to crossing of the signal lines at the level of 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 1260.