Gold quotes are traded at the level of 1265.03. Gold moves above the level of the moving average with a period of 55, which indicates the existence of a bullish trend for gold. At the moment, Gold quotes are moving near the upper border of the Bollinger Bands indicator bars. A test of the level of 1258.00 is expected, from which one should expect an attempt to continue growth and further development of the upward trend in gold with a target near 1282.50.
GOLD forecast and XAU/USD analysis on July 10, 2018
The conservative buying area is located near the lower boundary of the Bollinger Bands indicator bars at 1250.60. The abolition of the option of continuing Gold growth will be a breakdown of the lower border area of the Bollinger Bands indicator strip, as well as a moving average with a period of 55 and the closing of the pair quotations below the area of 1245.20, indicating a change in the trend in favor of the bearish for Gold. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.