Gold XAU/USD is trading at the level of 1280.94. Gold continues to trade above the moving average with a period of 55, indicating a bullish trend for gold. At the moment, Gold quotes are testing the average border of the Bollinger Bands indicator bars. It is worth waiting for an attempt to slightly lower and test the lower border of the Bollinger Bands indicator bars near the level of 1274.00, where again we should expect an attempt to continue growth with the first goal near the level of 1300.00.
Bollinger Bands forecast XAU/USD on April 19, 2017
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at the level of 1275.00. Canceling the option of continuing the growth of the Gold will be a breakdown of the lower border area, as well as the moving average and the closing of the Gold quotes below the area of 1259.00, indicating a change in the bearish trend for XAU/USD. In the case of fixing quotes above the upper border of the indicator strip, we expect to accelerate the growth of gold in the area above the level of 1300.00.
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