Gold XAU/USD completes the trading week at 1228.46. Gold is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a lateral trend over Gold. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the level of 1246.00, from which one should expect an attempt to drop and develop a bearish trend over Gold with a view to reducing to the level of 1197.00.
XAU/USD forecast Gold for the week May 15 — 19, 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 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 1267.00, which will indicate a change in the downward trend in favor of the upward. Expect to accelerate the fall in quotations XAU/USD is with the breakdown of the local minimum area at 1212.00.
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