GOLD is trading at 1308 and continues to move as part of growth. Gold moves above the upper boundary of the Ichimoku Kinko Hyo Cloud. This indicates an upward trend in GOLD. As part of the gold price forecast for today April 12, 2019. A test of the upper limit of the Ichimoku Kinko Hyo Cloud is expected near the level of 1305. Where should we expect a rebound and continued growth of GOLD with a target near the level of 1325.
GOLD Price Forecast and Analysis April 12, 2019
An additional signal in favor of the growth of XAU/USD quotes will be a rebound from the support area. The second signal will be the test of the upper limit of the downward channel. Earlier, a weak signal was received for BUY the GOLD. The signal was formed due to the intersection of signal lines at the level of 1285.
Cancellation of the price increase for GOLD will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with closing of quotes below 1285. This option will indicate a change in the upward trend in favor of the downward trend and the continuation of the fall in the price of GOLD with a potential target near the 1255 region. XAU/USD stands with the breakdown of the resistance area and closing above the level of 1310.
GOLD Price Forecast and Analysis April 12, 2019 implies an attempt to test the support level near the area of 1305. Where should we expect further growth of quotes with a potential target near the level of 1325. Canceling the lifting option will break down the area of 1285. This will indicate a continuation of the falling quotes XAU/USD with a target at the level of 1255.