Gold XAU/USD is trading at the level of 1254.65. Gold continues to move above the level of the moving average with a period of 55, which indicates the existence of a bullish trend for gold. Currently, Gold quotes are moving between the upper and middle borders of the Bollinger Bands indicator bars. It is worth waiting for the attempt to decrease near the level of 1245.00, where again we should expect an attempt to continue growth with the first goal near the level of 1265.00.
Bollinger Bands forecast XAU/USD on March 29, 2017
The conservative shopping area is located near the lower border of the Bollinger Bands indicator strip at the level of 1239.00. Canceling the option of continuing the growth of the gold will be a breakdown of the lower boundary area, as well as the moving average and the closing of the pair’s quotes below the area of 1234.00, indicating a trend reversal in favor of the bearish on XAU/USD. In case of fastening above the upper border of the indicator strip, it is expected to accelerate the growth of the pair in the area above the level of 1265.00.
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