Gold XAU/USD is trading at the level of 1253.26. 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 upper boundary of the Ichimoku Cloud near the level of 1248.00, from which one should expect an attempt of growth and development of the bullish tendency for the pair with the aim of increasing the level of 1265.00.
Ichimoku Kinko Hyo XAU/USD Forecast on April 7, 2017
Earlier, a signal of medium strength was obtained for the purchase of gold, due to the crossing of the signal lines at the level of 1248.00. The cancellation of the growth option will be the breakdown of the lower boundary of the Ichimoku Cloud with the closing of quotes below the area of 1243.00, 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 1257.00.
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