Gold XAU/USD is trading at 1275. Gold continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in GOLD (XAU/USD). Ichimoku Kinko Hyo indicator area signal lines are expected near the level of 1280, 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 quotations will come from the resistance level test.
Gold prices forecast XAU/USD on October 6, 2017
Earlier, a strong signal was received for the sell of Gold, due to the crossing of the signal lines at the level of 1295. The cancellation of the variant of the Gold quotations fall will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1300, which will indicate a bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations XAU/USD is with a breakdown of the level of 1265.