Quotes of XAU/USD Gold continue to move within a strong upward trend and currently trade at 1254. At the moment, there is potential for the completion of the price increase for Gold and the beginning of the fall with the target near the support level of 1228. A strong signal is the benefit of the fall and the start of the XAU/USD is the formation of the reversal forex model Head and shoulders on the MACD indicator.
MACD Forecast XAU/USD Gold on March 29, 2017
The histogram values of the indicator have completed the formation of the right arm of the model and at the moment the signal line has also left the MACD histogram limits, which is a strong signal in favor of Gold sales. The cancellation of the fall option will result in strong Gold growth and breakdown of the 1265 area, as well as an increase in the histogram values above the signal line level, which will indicate the cancellation of the reversal pattern on XAU/USD.