Ichimoku indicator analysis of gold for May 24, 2017
May 24, 2017 3:59 amVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 17-19, 2024: sell below $2,400 (21 SMA – double top) April 17, 2024
- Technical Analysis – GBPCAD hits a wall but bulls not ready to give up April 17, 2024
- Trading Signals for Ethereum (ETH/USD) for April 17-19, 2024: sell below $3,125 (21 SMA – 2/8 Murray) April 17, 2024
- Analysis for the EUR/USD pair on April 17th. Jerome Powell didn’t help the dollar much April 17, 2024
- Analysis for GBP/USD pair on April 17th. British inflation overtakes American inflation April 17, 2024
- 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
Gold price pulled back from $1,260 area as expected. Gold price could still move lower towards $1,240-45 area before the next upward move towards $1,280-$1,300. I do not see a deeper pullback at the moment at hand, so I will be waiting for an upward reversal that can come even this week.
Gold price continues to trade above the Ichimoku cloud in the 4-hour chart. I expect the price to reach the Kumo (cloud) support and bounce off it. Short-term resistance is at $1,255-57. Support is at $1,245.
On the daily chart, the price has come back inside the Kumo after being rejected at the 61.8% Fibonacci retracement as we expected. The price should hold inside the Kumo otherwise it will be a bearish sign if it closed below it. Important resistance remains at $1,265 and if taken out we will go to $1,280-$1,300.The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: