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Gold price is trading around $1,794 a little bit lower than were it ended on Friday. In our last analysis we mentioned that the sharp rise in price without any pull back, justified a return of price towards the 38% Fibonacci retracement which it had recently broken.
In Ichimoku cloud terms short-term trend remains bullish as price is still above the 4 hour Kumo (cloud). price has broken below the tenkan-sen (red line indicator) and this makes price vulnerable to a move towards the kijun-sen (yellow line indicator) now found at $1,783. Bulls do not want to see price break below the Kumo (cloud). Bulls want price to test the kijun-sen and reverse to the upside after testing it.Le recensioni analitiche di InstaForex ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaForex, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.