Gold XAU/USD completes the trading week at the level of 1263.53. Gold is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating that there is an upward trend in Gold. Ichimoku Kinko Hyo Cloud near the level of 1264.00 is expected to test the upper boundary of the Cloud, from which one should expect an attempt to grow and develop the bullish trend for Gold with a view to rising near the level of 1310.00.
GOLD prediction on May 29, 2017 — June 2, 2017
Earlier, a weak signal was received for the sale of XAU/USD, due to the crossing of the signal lines at the level of 1267.00. Canceling the growth of Gold quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 1233.00, which will indicate a change in the upward trend in favor of the downward trend. Expect to accelerate the growth of quotations XAU/USD stands with the breakdown of the local maximum area at the level of 1296.00.