Gold XAU/USD is trading at 1284.09. GOLD is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating that there is an bullish trend in Gold. The price of XAU/USD is expected to fall to the level of 1273.00, from which one should expect an attempt of growth and further development of the bullish trend for GOLD with a target to growth near the level of 1302.00.
GOLD prices forecast XAU/USD on August 11, 2017
Earlier, a signal of medium strength for buying GOLD was obtained, due to the crossing of the signal lines at the level of 1262.00. The cancellation of the growth of GOLD quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 1254.00, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations XAU/USD stands with the breakdown of the local maximum area at the level of 1295.00.
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