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11.03.202020:43 Forex Analysis & Reviews: Ichimoku cloud indicator Daily analysis of Gold

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Gold price is under pressure again today trading in lower levels since yesterday. Despite the bounce towards $1,670, price is now trading again at $1,638 under pressure. Short-term trend remains bullish despite the pull back.

Gold price is trading both above the cloud and above both the tenkan- and kijun-sen indicators. Support is at $1,632-25 and the tenkan-sen (Red line indicator) is above the kijun-sen. If price breaks and closes below $1,625 then we will have our first weak sell signal. Next major support is at the Kumo at $1,570.

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