Gold XAU/USD is trading at the level of 1265.20. Gold is trading below the moving average with a period of 55, indicating a bearish trend in gold. At the moment, Gold quotes are moving towards the middle band of the Bollinger Bands indicator. It is worth waiting for an attempt to test the mid-range indicator Bollinger Bands near the level of 1272.00, where again we should expect an attempt to continue falling with the first target near the level of 1254.00.
Bollinger Bands forecast XAU/USD on April 27, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator strip at the level of 1286.00. Canceling the option of continuing the fall of Gold will be a breakdown of the moving average region with a period of 55, as well as the upper border of the indicator bars and the closing of Gold quotes above the area of 1293.00, indicating a change in the bullish trend for XAU/USD. In the case of fixing quotes below the lower border of the indicator strip, we expect to accelerate the fall of Gold in the area below the level of 1254.00.
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