Gold XAU/USD completes the trading week at 1267.40. 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 1240.00, from which one should expect an attempt to grow and develop the bullish trend for Gold with the aim of rising to the level of 1305.00.
Ichimoku Kinko Hyo XAU/USD Forecast May 1 — 5, 2017
Earlier, a strong signal was received for the purchase of Gold, due to the intersection of the signal lines at the level of 1230.00. The cancellation of the growth option will be a breakdown of the lower boundary of the Ichimoku Cloud with the closing of quotes below the area of 1225.00, 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 1280.00.
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