For Traders

Analytical Reviews

Ichimoku Indicator

22.03.201810:02 Forex Analysis & Reviews: Ichimoku cloud indicator analysis of Gold for March 22, 2018

Long-term review

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 remains inside the $1,350-$1,300 trading range. Price has once again broken above the short-term Ichimoku cloud. Medium-term trend remains neutral as price has not made any important break of resistance or support yet.

Blue lines - sideways channel

Gold price has short-term support at $1,321 and resistance at $1,349. Bulls want to see price break above the blue trading range in order for a move towards $1,400 to have started. Bears on the other hand need to see price break back below the Ichimoku cloud in the 4-hour chart and eventually break $1,300 for a move at least towards $1,280.

On a daily basis Gold price has reached the upper Kumo boundary which is resistance. A rejection here will push price back towards the 1,300 area. A break and daily close above $1,339 will open the way for the break of the long-term resistance at $1,350.

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.