Gold technical analysis for April 13, 2015
April 13, 2015 6:30 amVideo
Latest News
- Euro will return to parity April 12, 2024
- Trading Signals for ETH/USD (Ethereum) for April 12-15, 2024: buy above $3,435 (3/8 Murray – 200 EMA) April 12, 2024
- EUR/USD. Analysis for April 12th. The euro falls down under the pressure of the news background April 12, 2024
- GBP/USD. Analysis for April 12th. A significant event: the pound fell below the 25-figure April 12, 2024
- Trading Signals for EUR/USD for April 12-15, 2024: buy above 1.0620 (-2/8 Murray – rebound) April 12, 2024
- GBP/USD: trading plan for the US session on April 12th (analysis of morning deals). The pound followed the euro April 12, 2024
- EUR/USD: trading plan for the US session on April 12th (analysis of morning deals). The euro continues to fall April 12, 2024
- EUR/USD and GBP/USD: Technical analysis on April 12 April 12, 2024
- EUR/USD: Dovish signals from the ECB and rising PPI April 12, 2024
- EUR/USD. April 12th. ECB meeting: confidence in rate cut increased in June April 12, 2024
- GBP/USD. April 12th. British economy continues to stagnate April 12, 2024
- Analysis and trading tips for EUR/USD on April 12 (US session) April 12, 2024
- Analysis and trading tips for USD/JPY on April 12 (US session) April 12, 2024
- Analysis and trading tips for GBP/USD on April 12 (US session) April 12, 2024
- Weekly Forex Outlook: 12/04/2024 – More inflation data on the way as rate cut bets in disarray April 12, 2024
- Technical Analysis – GBPUSD ticks down to new 5-month low April 12, 2024
- Bitcoin holds above $70,000 as halving event looms – Crypto News April 12, 2024
- Week Ahead – More inflation data on the way as rate cut bets thrown into disarray April 12, 2024
- Bitcoin will thrive during supply crisis April 12, 2024
- Technical Analysis – EURUSD plummets after US CPI and ECB decision April 12, 2024
Gold price managed to hold short-term support on Friday and bounced back above $1,200, bringing bulls back into the game. The key levels for the next big move in gold price are at $1,222 and at $1,190.
Red line = horizontal support
Yellow line = upward sloping trend line
Blue line = horizontal resistance
Gold price has managed to push above the yellow trend line support and above the Ichimoku cloud in the 4-hour chart. Gold price held short-term support on Friday and as long as the price is above $1,190, bulls will have more chances to push the price to $1,250-60.
The weekly chart was not looking good all week but on Friday bulls managed to hold above the tenkan-sen indicator (red line). Support was held but the price remains below the kijun-sen (yellow line) indicator. The longer-term trend remains bearish since the price is below the Ichimoku cloud. Good levels to sell are at the 61.8% retracement and at the Ichimoku cloud. A weekly close below the last week closes is a sell sign. Until then I prefer to stay neutral.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: