Gold XAU/USD is trading at 1286. Gold continues to trade below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in gold. Ichimoku Kinko Hyo indicator cloud is expected near the level of 1295, from which it is expected to rebound and further develop the bearish trend for Gold with a view to lower near the level of 1250. An additional signal in favor of the drop in quotes will be the test of the upper boundary of the descending channel.
Gold prices forecast XAU/USD on October 2, 2017
Earlier, a strong signal was received for the sell Gold, due to the crossing of signal lines at the level of 1295. The cancellation of the variant of falling GOLD quotes will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1310, which will indicate a bearish trend in favor of the bullish trend. Expect to accelerate the fall of quotations XAU/USD is with a breakdown of the level of 1280.