GOLD completes the trading week near the level of 1325. XAU/USD continues to trade within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend for GOLD. The test of the lower boundary of Ichimoku Kinko Hyo Cloud near the level of 1320 is expected, from which it is expected to attempt a rebound and continue growth with the aim near the level of 1385.
GOLD weekly forecast XAU/USD April 2 — 6, 2018
An additional signal in favor of growth is the test of the support area, as well as the test of the lower boundary of the channel. Earlier, a medium strength signal was obtained for buy the GOLD, due to the crossing of signal lines at level 1335.
Canceling the growth of Gold quotes will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with a close below the area of 1295, indicating a change in the flat trend in favor of the bearish trend. Expect to accelerate the growth of quotations XAU/USD stands with the breakdown of the upper boundary of the Cloud Ichimoku Kinko Hyo and the closure above the area of 1340.