Gold XAU/USD is trading at 1271. Gold continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in GOLD. Ichimoku Kinko Hyo indicator area signal lines are expected near the level of 1285, from which we should expect a rebound and a further development of the bearish trend for Gold with a target near the level of 1250. An additional signal in favor of the drop in quotes will come from the resistance level test.
Gold prices forecast XAU/USD on October 4, 2017
Earlier, a strong signal was received for the sell of Gold, due to the crossing of signal lines at the level of 1295. The cancellation of the variant of falling Gold quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above area 1305, which indicates a change of the downward trend in favor of the upward. Expect to accelerate the fall in quotations XAU/USD is with a breakdown of the level of 1265.