Gold XAU/USD is trading at the level of 1241.51. Gold continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in GOLD. Ichimoku Kinko Hyo Cloud is expected to test near the level of 1247.00, from which one should expect an attempt to drop and develop a bearish trend for Gold with a view to lower near the level of 1223.00.
GOLD prices forecast XAU/USD on June 27, 2017
Earlier, we received a weak signal for buying of GOLD, due to the crossing of the signal lines at the level of 1247.90. 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 1265.00, indicating a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XAU/USD stands with the breakdown of the local minimum area at the level of 1229.00.
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