GOLD is trading at 1344. XAU/USD is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in GOLD. Ichimoku Kinko Hyo Cloud near the 1330 level is expected to be near the level of 1330, 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 29, 2018
An additional signal in favor of XAU/USD growth will be the test of the support area, as well as the test of the lower border of the channel. Earlier, we received a weak signal for buy of GOLD, due to the crossing of signal lines at the level of 1315.
The cancellation of the growth of GOLD quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with a close below the area of 1320, 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.