GOLD is trading at 1314 and continues to move as part of the fall. GOLD moves below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bearish trend in GOLD. As part of the GOLD price forecast for today, March 1, 2019. A test of the area of Ichimoku Kinko Hyo signal lines near the level of 1317 is expected. Where should we expect a rebound and continuation of the fall of GOLD with a target near the level of 1295.
GOLD Price Forecast and Analysis March 1, 2019
An additional signal in favor of a drop in XAU/USD quotes will be a rebound from the resistance area. And also test the lower bullish channel. Earlier, a weak signal was received for SELL the GOLD. The signal was formed due to the crossing of signal lines at the level of 1331.
Cancellation of the fall in GOLD prices will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above area 1335. This option will indicate a downward trend in favor of an upward trend and a continued fall in the price of Gold with a potential target near the 1295 area. XAU/USD stands with the breakdown of support and closing below 1310.
GOLD Price Forecast and Analysis March 1, 2019 implies an attempt to test the resistance level near the 1317 area. Where should we expect further fall in quotations with a potential target near the 1295 level. Breaking down the reduction option will break the 1335 area. This will indicate a continuation of the XAU/USD with a target at the level of 1365.