Technical analysis of gold for March 20, 2017
March 20, 2017 8:16 amVideo
Latest News
- USD/JPY: Simple Trading tips for novice traders on April 17th (US session) April 17, 2024
- GBP/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
- EUR/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
- GBP/USD: trading plan for the US session on April 17th (analysis of morning deals) April 17, 2024
- Technical Analysis – EURUSD takes a breather after sharp tumble April 17, 2024
- Market continues to price in a plethora of rate cuts for 2024 – Special Report April 17, 2024
- EUR/USD: trading plan for the US session on April 17th (analysis of morning deals) April 17, 2024
- Technical Analysis – EURGBP maintains bearish bias amid pennant formation April 17, 2024
- EUR/USD. April 17th. Jerome Powell supports the dollar April 17, 2024
- GBP/USD. April 17th. Inflation in Britain is falling, but not as much as the market wants April 17, 2024
- Tesla Q1 Earnings: Poor deliveries point to disappointing results – Stock Markets April 17, 2024
- Video market update for April 17, 2024 April 17, 2024
- Forex forecast 04/17/2024: EUR/USD, GBP/USD, Gold, Bitcoin and Ethereum from Sebastian Seliga April 17, 2024
- Technical Analysis – Gold struggles to jump above 2,400 April 17, 2024
- GBP/USD: trading tips for beginners for European session on April 17 April 17, 2024
- EUR/USD: trading tips for beginners for European session on April 17 April 17, 2024
- Market Comment – Geopolitics and Fedspeak keep stocks under pressure April 17, 2024
- Technical Analysis – USDJPY on the verge of hitting 155.00 milestone April 17, 2024
- Hot forecast for EUR/USD on April 17, 2024 April 17, 2024
- Overview for the GBP/USD pair on April 17th. British inflation could weigh on the pound April 17, 2024
Gold price has reached the important $1,230-40 resistance area and a pullback is expected from current levels towards $1,220-15. Gold price has most probably made an important low at $1,194 and the next leg upwards has started.
Blue rectangle -pull back target
Gold price is trading above the Ichimoku cloud. Trend is now bullish. An important low at $1,194 has been hit. A break below it will open the way for a push towards $1,160-50. As long as we are above $1,194, Gold is bullish looking for a move above $1,300. In the short term, I expect Gold price to pull back towards $1,215.
The Daily candle has broken above the daily kijun-sen resistance. A pull back towards the Kumo (cloud) is expected and highly probable. This is the level I would be comfortable opening new long positions. My expectations for the next few months are to see Gold above $1,400.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: