Gold XAU/USD finished the trading week at the level of 1286.86. 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 1265.00, from which one should expect an attempt to grow and develop the bullish trend for gold with a view to growth to the level of 1312.00.
Ichimoku Kinko Hyo XAU/USD Forecast on April 17 — 21, 2017
Earlier, a strong signal was received for the purchase of Gold, due to the intersection 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 quotations below the 1200.00 area, 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 1290.00.
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