16.11.201710:05 Forex Analysis & Reviews: Ichimoku indicator analysis of gold for November 16, 2017

Long-term review

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

Gold price re-tested the important resistance of $1,283-88 but got rejected once again. Despite Dollar's weakness, Gold did not break above the resistance. This was a bearish sign. The other bearish sign we noted yesterday was the form of the rise from $1,262 that was not an impulsive, but overlapping corrective structure. This increased the chances of a reversal.

Blue lines - sideways channel

Gold price reached the upper channel boundary and got rejected. Price is now again below the 4-hour Kumo. Yesterday, we noted that despite price being above the 4-hour Kumo, trend was neutral as price was not making any progress to the upside. Price is still mainly moving sideways. If Dollar strengthens, I expect to see support at $1,262 get broken. This implies that we should fall towards $1,250-45.

Magenta line - resistance

Red line - short-term trend line resistance

Blue line -long-term trend line support

Gold price has broken again below the tenkan-sen in the daily chart as price got rejected once again at the kijun-sen. Trend remains bearish and Gold is heading towards the blue long-term upward sloping support trend line. There we should finally see an important low in Gold.

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.