Gold XAU/USD is trading at 1270. Gold continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in GOLD. Ichimoku Kinko Hyo indicator area signal lines are expected near the level of 1280, from which it is expected to rebound and further develop the bearish trend for Gold with a target near the level of 1250. An additional signal in favor of the drop in quotes will come the resistance level test.
Gold prices forecast XAU/USD on October 5, 2017
Earlier, a strong signal was received for the sell of Gold, due to the crossing of the signal lines at the level of 1295. The cancellation of the variant of the Gold quotations fall will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1300, which will indicate a 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 1265.
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