Gold XAU/USD is trading at the level of 1261.66. Gold is trading below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a downward trend in gold. It is expected to test the area of signal lines near the level of 1270.00, from which one should expect an attempt to fall and develop a bearish trend for gold in order to reduce near the level of 1238.00.
XAU/USD forecast Gold price on June 16, 2017
Earlier, we received a weak signal for the sale of GOLD, due to the crossing of the signal lines at 1282.00. The cancellation of the variant of falling Gold quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1282.00, which will indicate the change of the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XAU/USD is with the breakdown of the local minimum area at the level of 1245.00.
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