29.06.202215:29 Forex Analysis & Reviews: Short-term technical analysis on Gold

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Gold price is bouncing higher today towards $1,830. Price remains below key Ichimoku cloud indicators confirming that we remain in a bearish trend. Resistance by the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator) remain at $1,835-41 area. As long as price is below this level Gold is vulnerable to more downside. Support remains intact at $1,800-$1,790. So far Gold continues to trade inside the trading range of $1,800-$1,850 with no clear direction.The Chikou span (black line indicator) remains below the candlestick pattern. This is another sign that Gold price is vulnerable to another downward move.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.