Gold XAU/USD completes the trading week at the level of 1265.18. Gold continues to trade above the moving average with a period of 55, indicating a bullish trend for gold. Currently, Gold quotes are moving between the upper and middle borders of the Bollinger Bands indicator bars. It is worth waiting for an attempt to lower and test the middle border of the Bollinger Bands indicator bars near the level of 1240.00, where again we should expect an attempt to continue growth with the first goal near the level of 1300.00.
Bollinger Bands XAU/USD prediction on April 10 — 14, 2017
The conservative shopping area is near the lower border of the Bollinger Bands indicator strip at 1210.00. The abolition of the continuation of Gold’s growth will be the breakdown of the lower border area, as well as the moving average and the closing of the Gold quotes below the area of 1185.00, 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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