Gold technical analysis for March 10, 2015
March 10, 2015 9:40 amVideo
Latest News
- Analysis of GBP/USD on April 26th. The pound trades on Friday without changes April 26, 2024
- USD/JPY: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- EUR/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: trading plan for the US session on April 26th (analysis of morning deals). The pound attempted, but it didn’t go April 26, 2024
- EUR/USD: trading plan for the US session on April 26th (analysis of morning deals). The euro continues to rise April 26, 2024
- Trading Signals for GOLD (XAU/USD) for April 26-29, 2024: buy above $2,324 and sell below $2,352 (21 SMA – 6/8 Murray) April 26, 2024
- Technical Analysis – AUDUSD set to complete best week of the year April 26, 2024
- Will Apple finally drop its AI hint? – Stock Markets April 26, 2024
- Bitcoin slips as markets pare back Fed rate cuts – Crypto News April 26, 2024
- EUR/USD. April 26th. Bulls continue to advance after the GDP report April 26, 2024
- Can Chinese PMIs solidify the economy’s recovery prospects? – Preview April 26, 2024
- Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- XM’s Lombok Collaboration: Brightening Futures April 26, 2024
- Week Ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- Market Comment – Yen keeps sinking after Bank of Japan decision April 26, 2024
- Fed faces dilemma amid sticky inflation and slowing economy – Preview April 26, 2024
- USD/JPY: trading tips for beginners for European session on April 26 April 26, 2024
- GBP/USD: trading tips for beginners for European session on April 26 April 26, 2024
- EUR/USD: trading tips for beginners for European session on April 26 April 26, 2024
Gold price made a new lower low and is trending lower. This bearish trend is strong as bulls are very weak to push the price back above $1,200. Bulls only managed to push the price towards $1,175, but bears took over once again.
Orange lines = bearish channel
Gold price is inside a downward sloping channel and below the Ichimoku cloud resistance. The trend is bearish. Gold price is making lower lows and lower highs with possible bottom for today at $1,150. The short-term resistance is found at $1,166 and at $1,175. Support is found at $1,150 and at $1,130. If resistance at $1,175 is broken, we should expect the price to bounce towards the Ichimoku cloud near $1,200 at least.
Gold price is in a bearish long-term trend as it can be verified by the weekly chart. The price has not managed to close above the kijun-sen (yellow line) and this bearish sign points to new lows ahead.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: