Gold XAU/USD is trading at the level of 1267.40. Gold continues to trade below the lower boundary of the Ichimoku Cloud, indicating a downward trend in gold. It is expected to test the lower boundary of the Ichimoku Cloud near the level of 1272.00, from which one should expect an attempt to fall and further develop the bearish trend for Gold near the level of 1253.00.
Ichimoku Kinko Hyo XAU/USD forecast on May 1, 2017
Earlier, we received a weak signal for the sale of Gold, due to the intersection of the signal lines at 1282.00. 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 1280.00, 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 1260.00.
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