Gold XAU/USD completed the trading month at 1278.55. GOLD broke through the Ichimoku Kinko Hyo Cloud and began to trade above its upper limit, which indicates an upward trend in Gold. Ichimoku Kinko Hyo Cloud is expected to test near the level of 1246.00, from which one should expect an attempt of growth and development of the bull trend on Gold near the level of 1380.00.
XAU/USD forecast Gold price for June 2017
Earlier, a signal of medium strength was obtained for Gold buying, due to crossing of the signal lines at the level of 1233.40. The cancellation of the growth of Gold quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 1191.00, which will indicate a shift in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations XAU/USD stands with the breakdown of the local maximum area at 1357.00.
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