Gold XAU/USD is trading at the level of 1225.40. Gold continues to trade below the lower boundary of the Ichimoku Cloud, indicating a downward trend in gold. It is expected to test the area of signal lines near the level of 1233.00, from which one should expect an attempt to fall and further develop the bearish trend for Gold near the level of 1205.00.
Ichimoku Kinko Hyo XAU/USD prediction on May 10, 2017
Previously, a strong signal was received for the sale of Gold, due to the intersection of the signal lines at the level of 1262.80. Cancellation of the variant of falling quotes of the pair will be a breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotations above the area of 1257.00, which will indicate a change in the downward trend in favor of the ascending trend. Expect to accelerate the fall in quotations XAU/USD is with the breakdown of the local minimum area at 1212.00.
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