GOLD is trading at 1273 and continues to move within a decline and a downward channel. GOLD moves below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bearish gold trend. As part of the gold price forecast for today, April 19, 2019. A test of the area of Ichimoku Kinko Hyo signal lines near the level of 1280 is expected. Where should we expect a rebound and continuation of the fall of Gold with a target near the level of 1250.
GOLD Price Forecast and Analysis April 19, 2019
An additional signal in favor of a fall in XAU/USD quotes will be a rebound from the resistance area. Earlier, a medium strength signal was received for SELL the GOLD. The signal was formed due to the intersection of signal lines at the level of 1298.
Cancellation of the fall in GOLD prices will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with closure of quotes above the 1300 area. XAU/USD stands with the breakdown of the support area and closure below 1265.
GOLD Price Forecast and Analysis April 19, 2019 suggests an attempt to test the resistance level near the area of 1280. Where can we expect the continuation of the fall in quotations with a potential target near the level of 1250. Cancellation of the option to reduce the price of GOLD will break the area of 1300. This will indicate a continuation of the rise of XAU/USD quotations with the goal at 1345.