Gold XAU/USD is trading at the level of 1261.50. Gold is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating that there is an bullish trend in GOLD. Gold prices are expected to drop to the level of 1255.00, from which one should expect an attempt of growth and further development of the bullish trend for Gold with a target to growth near the level of 1272.00.
GOLD analysis and forecast XAU/USD on July 28, 2017
Earlier, we received a weak signal for the buying of GOLD, due to the intersection of the signal lines at the level of 1216.50. Canceling the growth of Gold quotations will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 1242.00, indicating a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations XAU/USD stands with the breakdown of the local maximum area at the level of 1267.00.