Gold technical analysis for January 20, 2015
January 20, 2015 10:10 amVideo
Latest News
- Analysis of the GBP/USD pair on April 18, 2024 April 18, 2024
- Analysis for EUR/USD pair on April 18th. Dull ending to a dull week April 18, 2024
- USD/JPY: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- EUR/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: trading plan for the US session on April 18th (analysis of morning deals) April 18, 2024
- Trading Signals for EUR/USD for April 18-20, 2024: buy above 1.0641 (21 SMA – 2/8 Murray) April 18, 2024
- Bitcoin slides ahead of halving event – Crypto News April 18, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 18-20, 2024: buy above $62,500 or $63,037 (4/8 Murray – rebound) April 18, 2024
- GBP/USD. April 18th. Andrew Bailey did not clarify the situation on QE April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 18-20, 2024: buy above $2,375 (6/8 Murray – 21 SMA) April 18, 2024
- Technical Analysis – Netflix stock moves within narrow range ahead of earnings April 18, 2024
- Technical Analysis – GBPUSD tries to recoup some losses April 18, 2024
- USD/JPY in crisis April 18, 2024
- EUR/USD: trading plan for US session on April 18. EUR gets stuck at 1.0686 April 18, 2024
- Fed to keep policy tight for longer than markets view April 18, 2024
- Technical Analysis – BTCUSD drops to 6-week low as halving looms April 18, 2024
- Midweek Technical Look – EURUSD, US 500, WTI April 18, 2024
- Technical Analysis – AUDJPY pulls back but stays in uptrend April 18, 2024
- Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga April 18, 2024
Gold price moved mainly sideways yesterday and did not push lower than $1,272. Today Gold price has made another breakout to new highs moving closer to our longer-term targets. Trend remains bullish. Short-term weakness will be signaled if we break yesterday’s lows.
Green line = horizontal trend line support
The Ichimoku cloud is below the current price, and all Ichimoku indicators remain fully bullish on the 4-hour chart as shown above. Trend is clearly bullish; and unless we see a break below $1,272, bulls should not be worried. If support at $1,272 is broken, we should expect Gold price to move towards the Ichimoku cloud at $1,230-35.
Last week I pointed out two possible targets for Gold to move relative to the triangle base and the previous upward move from $1,130 to $1,240. The breakout above the triangle was a great buying signal, and, I believe, that there are good chances of reaching the target areas as shown on the daily chart above. Important daily support is now at $1,220-$1,230.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: