Gold XAU/USD is trading at the level of 1264.32. Gold continues to trade above the upper boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of an bullish trend in Gold. The test of the upper boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 1256.00, from which one should expect an attempt of growth and development of the bullish trend on Gold near the level of 1273.00.
Gold XAU/USD forecast on June 1, 2017
Earlier, a strong signal was received for the buying of Gold, due to the crossing of the signal lines at the level of 1256.00. 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 1270.00.
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