GOLD XAU/USD is trading at the level of 1250.46. GOLD continues to trade above the upper boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of an bullish trend in GOLD. Gold is expected to fall near the level of 1245.0, from which it is expected to try to grow and develop the bullish trend for GOLD near the level 1270.00.
XAU/USD forecast & analysis on May 22, 2017
Earlier, we received a weak signal for buy of GOLD, due to the intersection of the signal lines at the level of 1225.00. Canceling the growth of GOLD quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 1232.00, which will indicate a change in the upward trend in favor of a downward trend. Expect to accelerate the growth of quotations XAU/USD stands with the breakdown of the local maximum area at the level of 1265.00.