Gold XAU/USD is trading at the level of 1252.11. Gold is traded within the Ichimoku Kinko Hyo Cloud, which indicates a lateral trend over Gold. The lower limit of the Ichimoku Kinko Hyo Cloud is expected near the level of 1249.00, from where it is expected to test the upper boundary of the Ichimoku Kinko Hyo Cloud near the level of 1260.00.
XAU/USD Forecast GOLD prices on June 29, 2017
Earlier, a medium strength signal was obtained for GOLD buying, due to the crossing of signal lines at the level of 1247.40. To consider the purchase of gold costs with the breaking of the upper boundary of the Cloud of Ichimoku Kinko Hyo and the closing of quotations above the level of 1265.00, in case of breaking through the lower boundary of the Cloud Ichimoku Kinko Hyo it is necessary to expect the continuation of the development of the downward trend in XAU/USD.
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