GOLD completes the trading week near the level of 1311. Gold continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of an upward 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 to grow with a target near the level of 1365.
GOLD Weekly Forecast XAU/USD March 25 — 29, 2019
An additional signal in favor of rising gold prices in the current trading week from March 25 — 29, 2019 will be a rebound from the support level. The second signal will be the test of the lower boundary of the ascending 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 1280. This 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. Expect to accelerate the growth of XAU/USD quotes with the breakdown of the upper limit of the model «Triangle» and closing above the level of 1325.
GOLD Weekly Forecast XAU/USD March 25 — 29, 2019 suggests an attempt to develop a correction to the level of 1290. Where can we expect a rebound and continued growth of quotations with a potential goal near the level of 1365. 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 1280. In this case, we should expect a continuation of the decline with a target below the level of 1245.