14.02.202317:53 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on Gold for February 14th, 2023.

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 trading around $1,865. In the 4 hour chart trend remains bearish according to the Ichimoku cloud indicator. The kijun-sen (yellow line indicator) at $1,866 is short-term resistance. The Ichimoku cloud is at $1,892 and as long as price is below this level, trend remains bearish. The tenkan-sen (red line indicator) provides support at $1,856. A break below this level will open the way for a move lower towards $1,825. The Chikou span (black line indicator) remains below the canldestick pattern confirming that trend is bearish in the 4hour chart.

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.