GOLD completes the trading week near the level of 1301. Gold continues to be traded inside the Ichimoku Kinko Hyo Cloud. This indicates the presence of a sideways trend in GOLD. A test of the lower boundary of the Kinko Hyo Cloud near the level of 1290 is expected. Where should we expect an attempt to rebound and continue growth with a target near the level of 1350.
GOLD Weekly Forecast XAU/USD March 18 — 22, 2019
An additional signal in favor of rising GOLD prices in the current trading week of March 18 — 22, 2019 will be a rebound from the support level. The second signal will be the test of the lower boundary of the bullish channel. Earlier, a weak signal was received for SELL the GOLD. The signal was formed due to the intersection of the signal lines at the 1315 level.
Cancellation of the growth rate of GOLD quotes will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with a close below 1270. This will indicate a change in the side trend in favor of the downward trend and the continuation of the fall in GOLD prices. Expect to accelerate the growth of quotes XAU/USD stands with the breakdown of the upper boundary of the Cloud and closing above the level of 1330.
GOLD Weekly Forecast XAU/USD March 18 — 22, 2019 suggests an attempt to develop a correction to the level of 1290. Where should we expect a rebound and continued growth of quotations with a potential target near the level of 1350. The support level test will be in favor of growth. The cancellation of the option of increasing the price of GOLD will be the breakdown of the area of 1270. In this case, we should expect a continuation of the decline with a target below the level of 1230.