Technical analysis of gold for March 31, 2017
March 31, 2017 7:02 amVideo
Latest News
- Will the euro manage to save itself? April 17, 2024
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
Yesterday Gold continued the pullback and is trading above $1,240 near the 38% Fibonacci retracement of the latest rise from $1,194 to $1,261. Short-term trend is bearish, but it is expected to reverse soon.
Red lines – bearish channel
The price has entered the 4-hour Ichimoku cloud. This changing trend will back to neutral in the short term. The RSI (5) is telling me that soon we will have an upward reversal. Short-term resistance is at $1,248. Support is at $1,236.
Gold remains above both the weekly tenkan- and kijun-sen. This is a good sign. However, the price needs to break above the black downward sloping trend line resistance and above the cloud at $1,300-$1,310 in order for the weekly trend to be confirmed bullish.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: