Gold quotes are traded at the level of 1255.62. Gold moves below the level of the moving average with a period of 55, indicating a bearish trend for gold. At the moment Gold quotes are testing the lower boundary of the bands of the Bollinger Bands indicator. A test of the level of 1262.50 is expected, from which one should expect an attempt to continue the fall and further development of the downward trend in gold with a target near the level of 1243.20.
GOLD forecast and XAU/USD analysis on June 27, 2018
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator strip at 1274.20. The abolition of the continuation of the fall of the Gold will be the breakdown of the upper boundary of the Bollinger Bands indicator strips, as well as the moving average with a period of 55 and the closing of the pair quotes above the area of 1285.20, indicating a change in the trend in favor of the bullish for Gold. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.