Gold XAU/USD finished the trading week at the level of 1244.34. Gold is trading above the upper limit of the Ichimoku Cloud, indicating that there is an upward trend in gold. It is expected to test the upper boundary of the Ichimoku Cloud near the level of 1227.00, from which one should expect an attempt to grow and develop the bullish trend for this GOLD with the aim of increasing the level of 1270.60.
Ichimoku forecast XAU/USD on March 27 — 31, 2017
Previously, a strong signal was obtained to buy Gold, due to the crossing of the signal lines at the level of 1230.00. The cancellation of the growth option will be a breakdown of the lower boundary of the Ichimoku Cloud with the closing of quotes below the area of 1180.00, which will indicate a shift in the upward trend in favor of a downward trend. Expect to accelerate the growth of quotations XAU/USD stands with the breakdown of the local maximum area at the level of 1255.00.
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