Gold XAU/USD completes the trading week at 1318.57. GOLD is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of an bullish trend in XAU/USD. Gold prices are expected to drop to the level of 1296.00, 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 1355.00.
XAU/USD weekly forecast on September 4 — 8, 2017
Earlier, we received a weak signal for buying GOLD, due to the crossing of the signal lines at the level of 1235.43. The cancellation of 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 1255.00, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations XAU/USD stands with the breakdown of the local maximum area at 1346.00.
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