You are here: Home > articles > Commodities > Forex > Ichimoku indicator analysis of gold for November 27, 2017
Ichimoku indicator analysis of gold for November 27, 2017
November 27, 2017 10:20 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 is in a short-term bullish trend as price is above the 4-hour Ichimoku cloud and is making higher highs and higher lows. Price is steadily moving higher but on very slow pace. The form of the price rise has an overlapping price structure which suggests that this upward move is not impulsive.
Blue lines – bullish channel
Gold price is trading at $1,291.50 above both the tenkan- and kijun-sen indicators. Price made an important low late October around $1,260 and ever since it is mainly moving sideways as price has not yet broken above the October high of $1,305. Support is at $1,281. Breaking below that level will push price towards $1,270-$1,260 and eventually towards our short-term target of $1,250-45. Resistance is at $1,299-$1,305.
On a daily basis Gold price is testing the lower boundary of the Ichimoku cloud. Support is on Friday’s low and resistance at $1,294-95. A rejection here will increase the chances of my bearish short-term scenario for a move towards $1,250 before the resumption of the up trend.The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: