GOLD XAU/USD completes the trading week near the level of 1294. Gold continues to trade above the upper boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of an bullish trend in GOLD. Ichimoku Kinko Hyo Cloud near the 1290 level is expected to be tested near the level of 1290, from which one should expect an attempt of growth and further development of the bullish trend with the target near the level of 1350.
GOLD prices forecast XAU/USD on September 25 — 29, 2017
An additional signal in favor of the growth of GOLD prices is the support level test. Earlier, we received a weak signal for the sale of XAU/USD, due to the crossing of the signal lines at the level of 1315. The cancellation of the growth of Gold quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 1275, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations XAU/USD stands with a breakdown of the level of 1310.
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