Gold XAU/USD is trading at the level of 1278.55. Gold continues to trade above the upper boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of an bullish trend in GOLD. It is expected to test the area of signal lines near the level of 1269.00, from which one should expect an attempt to grow and develop a bullish trend for Gold near the level of 1289.00.
XAU/USD Gold price outlook June 5, 2017
Earlier, a strong signal was received for the buying of GOLD, due to the crossing of the signal lines at the level of 1267.00. Canceling the growth of Gold quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 1260.00, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations XAU/USD stands with the breakdown of the local maximum area at 1283.00.
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