GOLD is trading at 1324. XAU/USD is traded at the lower upper bound of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in GOLD. Ichimoku Kinko Hyo Cloud is expected to test near the 1330 level, from which it is expected to rebound and continue the development of a bearish trend in Gold with a view to falling near the level of 1300.
GOLD prices forecast XAU/USD for April 2, 2018
An additional signal in favor of the fall of XAU/USD will be a test of the resistance level, as well as a test of the lower boundary of the bullish channel. Earlier, a weak signal was received for the sell of GOLD, due to the crossing of signal lines at the level of 1340.
The cancellation of the variant of falling GOLD quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with a close above the area of 1340, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XAU/USD is with the breakdown of the support area and closing below the level of 1325.