Gold XAU/USD is trading at the level of 1253.13. GOLD broke through the Ichimoku Kinko Hyo Cloud and began to trade below its lower limit, indicating a bearish trend in GOLD. Ichimoku Kinko Hyo Cloud is expected to test near the level of 1258.00, from which one should expect an attempt to drop and further develop the bearish trend for Gold with a target to lower near the level of 1234.00.
Price GOLD forecast XAU/USD on August 9, 2017
Earlier, a weak signal was received for the sale of GOLD, due to crossing of the signal lines at the level of 1265.00. The cancellation of the drop in GOLD quotations will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1268.00, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XAU/USD is with the breakdown of the local minimum area at the level of 1239.00.
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