Gold XAU/USD completes the trading week at 1253.37. Gold is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating that there is an bullish trend in Gold. The Ichimoku Kinko Hyo Cloud Upgrade Test is expected near the level of 1246.00, from which it is expected to attempt an increase and further development of the bullish trend for Gold with a view to rising near the level of 1292.00.
XAU/USD forecast for the week June 19 — 23, 2017
Earlier, a signal of medium strength was obtained for Gold buying, due to crossing of the signal lines at the level of 1249.53. 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 1232.00, which will indicate 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 1283.00.