Gold XAU/USD completes the trading week at the level of 1295.44. GOLD is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating that there is an bullish trend in XAU/USD. Gold prices are expected to drop to the level of 1278.00, from which one should expect an attempt of growth and further development of the bullish trend with the target of growth near the level of 1321.00.
XAU/USD weekly forecast on August 21 — 25, 2017
Earlier, we received a weak signal for buying of gold, due to the crossing of signal lines at the level of 1235.43. Canceling the growth of Gold quotations will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 1242.00, indicating 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 the level of 1315.00.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
