You are here: Home > articles > Commodities > Forex > Ichimoku cloud indicator analysis on Gold for September 8th, 2023.
Ichimoku cloud indicator analysis on Gold for September 8th, 2023.
September 8, 2023 4:22 pmVideo
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 is under pressure. Gold is now trading around $1,921 after making a high earlier today around $1,928. Gold price is now outside and below the cloud (Kumo). Earlier today price bounced higher towards the kijun-sen (yellow line indicator) resistance and got rejected. This rejection has lead to price breaking below the Kumo. If the 4 hour candlestick closes below the cloud, then we will get a change in trend to bearish. Price is currently also below the tenkan-sen (red line indicator). The Chikou span (black line indicator) is also below the candlestick pattern (bearish). All signs are negative confirming that Gold price remains vulnerable to the downside. Technically support is found at $1,914-15 where the recent low was made. A break below it will be an added sign of weakness.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: