Gold XAU/USD is trading at the level of 1258.46. Gold continues to trade above the upper boundary of the Ichimoku Cloud, indicating that there is an upward trend in gold. It is expected to test the area of signal lines near the level of 1249.00, from which one should expect an attempt at growth and development of a bullish trend for this pair with the aim of increasing the level of 1270.00.
Ichimoku Kinko Hyo forecast XAU/USD on March 28, 2017
Earlier, a signal of medium strength was obtained for the purchase of Gold, by crossing the signal lines at the level of 1219.00. 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 1221.00, 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 1260.00.
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