Gold XAU/USD is trading at the level of 1234.65. Gold is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a lateral trend over Gold. The Ichimoku Kinko Hyo Cloud upper limit test is expected near level 1242.0, from which it is expected to test the lower boundary of the Ichimoku Kinko Hyo Cloud near the level of 1225.00.
Ichimoku Kinko Hyo forecast XAU/USD on May 17, 2017
Earlier, we received a weak signal for buy of GOLD, due to the crossing of the signal lines at the level of 1225.00. Consider buying is worthwhile with the breaking of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closing of quotes above the level of 1243.00, in the case of breaking the lower boundary of the Ichimoku Kinko Hyo Cloud, one should expect the continuation of the downward trend development according to XAU/USD.
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