Gold XAU/USD completes the trading week at the level of 1227.15. Gold is traded inside the Ichimoku Cloud, which indicates the presence of a lateral trend for Gold. It is expected to test the upper boundary of the Ichimoku Cloud near the level of 1240.00, from which one should expect an attempt to fall and develop the bearish trend over Gold with the aim of reducing to the level of 1196.00.
Ichimoku Kinko Hyo XAU/USD Forecast May 8 — 12, 2017
Earlier, a weak signal was received for the sale of Gold, due to the crossing of the signal lines at the level of 1267.00. The cancellation of the fall option will be a breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotations above the area of 1270.00, which will indicate a change in the downward trend in favor of the ascending trend. Expect to accelerate the fall in quotations XAU/USD is with the breakdown of the local minimum area at the level of 1210.00.
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