GOLD is trading at 1340. XAU/USD is trading above the upper boundary of the Cloud Ichimoku Kinko Hyo, indicating that there is a bullish trend in GOLD. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the 1340 level, from which it is expected to rebound and continue the development of the bullish trend over GOLD for the target of growth near the level of 1370. An additional signal in favor of the growth of quotations will be the test of the lower boundary of the bullish channel.
GOLD prices forecast XAU/USD on January 25, 2018
Previously, a strong signal was obtained for the buy of the GOLD, due to the crossing of the signal lines at the level of 1333.
The cancellation of the growth of Gold quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with a close below the area of 1320, 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 upper limit of the model «Triangle» and the closure above the level of 1345.
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