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 is trapped between the kijun-sen and the tenkan-sen indicators. Although longer-term trend in Ichimoku cloud terms remains bullish, there are some worrying signs that a bigger pull back could unfold until the end of the year.
Gold price is well above the Kumo (cloud). Price is getting rejected the last two weeks at the tenkan-sen (red line indicator). This is a sign of weakness. The tenkan-sen resistance is now at $1,920. Bulls need a weekly close above $1,920. On the other hand bears are not that strong either as price has tested the kijun-sen (yellow line indicator) and have not managed to break below it yet. Support by the kijun-sen is at $1,872. A weekly close below $1,872 is what bears look for. This will imply that a move towards the cloud at $1,650-$1,700 would be likely. The Chikou span (black line indicator) is above the candlestick pattern. Support according to the Chikou span on a weekly basis is at $1,730-$1,760.
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.
Stay 
