For Traders

Analytical Reviews

Ichimoku Indicator

27.02.202323:38 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on Gold for February 27th, 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.

In Ichimoku cloud terms Gold price remains in a bearish trend. Price is trading around $1,816 while price has just pushed above the tenkan-sen (red line indicator) at $1,814. This is a small sign of strength pointing to a potential bigger bounce higher. Bears remain in control of the short-term trend. The kijun-sen (yellow line indicator) provides resistance at $1,825 and if broken we should expect the lower cloud boundary at $1,835 to be tested. The Chikou span (black line indicator) remains below the candlestick pattern confirming bearish trend. Gold price has potential to bounce higher. In order to call a trend change, we will need to see Gold price push above the Kumo at $1,844.

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.