Gold XAU/USD completes the trading week at 1243.67. Gold broke through the Ichimoku Kinko Hyo Cloud and began to trade below its lower limit, indicating a bearish trend in Gold. The test of the lower boundary of Ichimoku Kinko Hyo Cloud near the level of 1250.00 is expected, from where one should expect an attempt to fall and further develop the bearish trend for Gold with a view to falling near the level of 1200.00.
XAU/USD weekly forecast on July 3 — 7, 2017
Earlier, a weak signal was received for the sale of Gold, due to the crossing of the signal lines at the level of 1261.30. The cancellation of the drop in Gold quotations will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 1274.00, which will indicate a change in the bearish trend in favor of the bullish. Expect to accelerate the fall in quotations XAU/USD is with the breakdown of the local minimum area at the level of 1213.00.
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