GOLD XAU/USD completes the trading week at 1254.92. GOLD broke through the Ichimoku Kinko Hyo Cloud and began to trade above its upper limit, which indicates an upward trend in Gold. GOLD is expected to rise near the level of 1266.00, followed by a test of the upper boundary of the Ichimoku Kinko Hyo Cloud near the level of 1258.00, from which one should expect an attempt to grow and develop the bullish trend for gold with a target to rising near the level 1295.00.
XAU/USD weekly forecast on May 22 — 26, 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. Canceling the growth of GOLD quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 1230.00, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations XAU/USD with the breakdown of the local maximum area at the level of 1285.00.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
