Gold XAU/USD is trading at the level of 1257.71. Gold is trading above the moving average with a period of 55, indicating a bullish trend for gold. At the moment, Gold quotes test the upper boundary of the Bollinger Bands indicator bars. It is worth to expect a decline attempt near the level of 1250.00, where again we should expect an attempt to continue growth with the first goal near the level of 1275.00.
Bollinger Bands XAU/USD forecast on April 5, 2017
The conservative shopping area is located near the lower border of the Bollinger Bands indicator strip at the level of 1239.00. Canceling the option of continuing the growth of the Gold will be the breakdown of the lower boundary area, as well as the moving average and the closing of the pair’s quotations below the area of 1230.00, which will indicate a change in the trend in favor of the bearish on XAU/USD. In the case of fixing quotes above the upper border of the indicator strip, we expect to accelerate the growth of the pair in the area above the level of 1275.00.
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