Gold XAU/USD completes the trading week at 1274.06. Gold broke through the Ichimoku Kinko Hyo Cloud and began to trade above its upper limit, which indicates an bullish trend in GOLD. The upper limit of the Ichimoku Kinko Hyo Cloud is expected near the level of 1257.00, from which one should expect an attempt of growth and further development of the bullish trend for Gold near the level of 1318.00.
XAU/USD weekly forecast June 12 — 16, 2017
Earlier, a signal of medium strength was obtained for GOLD buying, due to crossing of the signal lines at the level of 1249.53. 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 1227.00, 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 1304.00.
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