GOLD is trading at 1295 and continues to move as part of the correction and the formation of the «Triangle» model. GOLD moves inside Ichimoku Kinko Hyo Clouds. This indicates the presence of a flat trend in GOLD. As part of the gold price forecast for today, March 19, 2019. A test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the 1300 level. Where can we expect a rebound and continued growth of GOLD with a target near the 1335 level.
GOLD Price Forecast and Analysis March 20, 2019
An additional signal in favor of the growth of XAU/USD quotes will be a rebound from the support area. And also test the lower boundary of the model «Triangle». Earlier, a medium strength signal was received for BUY the GOLD. The signal was formed due to the intersection of the signal lines at the level of 1302.
Cancellation of the price increase for GOLD will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the 1290 region. XAU/USD stands with the breakdown of the upper boundary of the Triangle model and closure above the level of 1310.
GOLD Price Forecast and Analysis March 20, 2019 implies an attempt to test the support level near the 1300 area. Where should we expect further fall in quotations with a potential target near the 1335 level. Breaking the growth option will break the 1290 region. XAU/USD with a target at the level of 1275.