You are here: Home > articles > Commodities > Forex > Ichimoku cloud indicator analysis on Gold for October 25th, 2023.
Ichimoku cloud indicator analysis on Gold for October 25th, 2023.
October 25, 2023 2:26 pmVideo
Latest News
- Why does the 10-year US yield remain so high? – Special Report April 7, 2024
- EUR/USD and GBP/USD: trading tips for beginners on April 5 April 7, 2024
- Weekly Forex Outlook: 05/04/2024 – ECB decision and US inflation to fuel FX volatility April 5, 2024
- Weekly Forex Outlook: 05/04/2024 – ECB decision and US inflation to fuel FX volatility April 5, 2024
- Analysis and trading tips for USD/JPY on November 8 November 8, 2023
- Trading plan for EUR/USD for November 08, 2023 November 8, 2023
- Trading Signals for GOLD (XAU/USD) for November 8-10, 2023: sell below $1,966 (21 SMA – 7/8 Murray) November 8, 2023
- EUR/USD and GBP/USD: Technical analysis for November 8 November 8, 2023
- Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday, November 08 2023. November 8, 2023
- Technical Analysis of Daily Price Movement of Crude Oil Commodity Asset, Wednesday November 08,2023. November 8, 2023
- Forecast for EUR/USD on November 8, 2023 November 8, 2023
- Forecast for GBP/USD on November 8, 2023 November 8, 2023
- Forecast for AUD/USD on November 8, 2023 November 8, 2023
- Key events on November 8: fundamental analysis for beginners November 8, 2023
- Trading plan for GBP/USD on November 8. Simple tips for beginners November 8, 2023
- Trading plan for EUR/USD on November 8. Simple tips for beginners November 8, 2023
- USD/JPY. Where does the red line lie? November 8, 2023
- RBA raises rates, dollar tries to regain initiative. Review of USD, NZD, AUD November 7, 2023
- Technical analysis on GBP/USD on November 07, 2023 November 7, 2023
- Technical analysis on EUR/USD on November 07, 2023 November 7, 2023
Gold price is trading around $1,975. Today we use the Ichimoku cloud indicator in the 4 hour chart to identify key support and trend change levels. According to the Ichimoku cloud indicator, despite the recent pull back and stop in advance, trend remains bullish as price is still above the Kumo (cloud). The Chikou span (black line indicator) remains above the candlestick pattern (bullish). The tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator) provide support at $1,966 an d$1,970 respectively. Price remains above both suggesting that there is no sign of weakness. A break below $1,966 will be a sign of weakness that could lead price to a pull back towards the cloud support at $1,933. Gold price is mostly moving sideways the last couple of sessions. This consolidation is common after strong moves. Traders need to be patient now. Bulls remain in control of the medium-term trend.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: