You are here: Home > articles > Commodities > Ichimoku indicator analysis of gold for October 10, 2017
Ichimoku indicator analysis of gold for October 10, 2017
October 10, 2017 8:23 amVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 19-22, 2024: sell below $2,395 (+2/8 Murray – overbought) April 19, 2024
- USD/JPY: Simple Trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- EUR/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: trading plan for the US session on April 19th (analysis of morning deals). The pound is trying to regain its advantage April 19, 2024
- EUR/USD: trading plan for the US session on April 19th (analysis of morning deals). The euro compensated for the losses April 19, 2024
- Storm in a teacup: EUR/USD analysis April 19, 2024
- Video market update for April 19, 2024 April 19, 2024
- Eurozone PMIs eyed as euro’s focus turns to rate cuts beyond June – Preview April 19, 2024
- Technical Analysis – NZDUSD falls to fresh 5-month low April 19, 2024
- EUR/USD. April 19th. Bostic, Fed: the rate cut will happen at the end of the year April 19, 2024
- Forecast for GBP/USD pair on April 19, 2024 April 19, 2024
- Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
Gold price has broken above the short-term resistance trend lines and is testing important cloud resistance at $1,290. Breaking above the 4-hour cloud will be an important short-term reversal confirmation. I continue to believe that the next leg up towards $1,400 has started.
Black line -resistance
Red line – resistance
Gold price is trading above both the tenkan- and kijun-sen indicators and tries to break above the 4-hour Kumo (cloud) resistance. Support is at $1,280. Breaking above the Kumo will be a bullish sign.
On a weekly basis, Gold price has reacted positively right at the support by the 61.8% Fibonacci retracement. Last week’s bullish hammer candlestick pattern is promising for the weeks to come. Last week’s low is important support and bulls do not want it broken.The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: