Gold XAU/USD is trading at the level of 1233.33. Gold is trading below the lower boundary of the Ichimoku Cloud, indicating a downward trend in gold. Gold is expected to rise near the level of 1243.00, from which it is expected to try to fall and further develop the bearish trend for Gold near the level of 1208.00. Previously, a strong signal was received for the sale of Gold, due to the intersection of the signal lines at the level of 1262.80.
Ichimoku Kinko Hyo XAU/USD Forecast on May 9, 2017
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 1259.00, which will indicate a change in the downward trend in favor of the ascending trend. Expect the acceleration of the fall in quotations XAU/USD stands with the breakdown of the local minimum area at the level of 1218.00.
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