Gold XAU/USD is trading at the level of 1219.59. Gold continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in GOLD. Ichimoku Kinko Hyo Cloud near the level of 1222.00 is expected to test the bottom of the cloud, from which one should expect an attempt to fall and further develop the bearish trend for GOLD with a view to lower near the level of 1191.00.
GOLD prices forecast XAU/USD & analysis on July 14, 2017
Earlier, we received a weak signal for buying of GOLD, due to the crossing of signal lines at the level of 1216.50. The cancellation of the drop in GOLD quotations will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1233.00, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotations XAU/USD stands with the breakdown of the local minimum area at the level of 1199.00.
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