Gold XAU/USD is trading at 1290. Gold continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in GOLD. It is expected to test the area of the signal lines of the indicator near the level of 1300, from which we should expect a rebound and a further development of the bearish trend for gold with a target to reducing it near the level of 1275. An additional signal in favor of the fall of the XAU/USD quotations will be a resistance level test.
Gold prices forecast XAU/USD on September 22, 2017
Previously, a strong signal was received for the sale of Gold, due to the crossing of the signal lines at the level of 1323.00. Canceling the option of falling Gold quotes will be a breakdown of the upper boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes above the area of 1315, which will indicate the change of the bearish trend in favor of the bullish trend. Expect to accelerate the fall of quotations XAU/USD is worth a breakdown level 1288.