GOLD is trading at 1352. XAU/USD is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in GOLD. The test area of Ichimoku Kinko Hyo signal lines near the level of 1340 is expected, from which it is expected to rebound and continue the development of the bullish trend in GOLD for the target of growth near the level of 1365.
GOLD prices forecast XAU/USD on March 28, 2018
An additional signal in favor of XAU/USD growth will be a test of the support area. Earlier, we received a weak signal for buy of GOLD, due to the crossing of signal lines at the level of 1315.
Canceling the growth of GOLD quotations will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with a close below the area of 1325, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations XAU/USD stands with the breakdown of the resistance area and the closing above the level of 1355.