GOLD: Ichimoku Kinko Hyo weekly analysis for April 2013
April 29, 2013 8:15 am
Gold now is held at the Weekly Tenkan Sen line at 1,470.34 as the Dynamic Resistance, but this week it seems the downside pressure is still going on. It has already been indicated by:
1. The price curve still trading below the “Kumo’s”.
2. The Chikou Span is pointing up BUT still below the “Kumo’s”.
3. Senkou Span A now has a position below the Senkou Span B.
4. Tenkan Sen is still below the Kinjun Sen and still makes a flat line (Trendless) and both of them are still below the “Kumo’s”.
Taken into account these four facts, we believe Gold still has got a downside pressure for this week. However, if this week it can pass the level of 1,470.34, gold will try to test the Monthly Resistance, created by the Monthly Chikou Span at the 1,497.09.
In the opposite ways, if the Weekly Tenkan Sen Line, acting as a dynamic Resistance, is strong enough to hold the price movement, then Gold will be back to the downside again to test the Weekly Resistance created by the Weekly Chikou Span at the 1,402.75 level.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
The material has been provided by InstaForex Company – www.instaforex.com
Gold now is held at the Weekly Tenkan Sen line at 1,470.34 as the Dynamic Resistance, but this week it seems the downside pressure is still going on. It has already been indicated by:
1. The price curve still trading below the “Kumo’s”.
2. The Chikou Span is pointing up BUT still below the “Kumo’s”.
3. Senkou Span A now has a position below the Senkou Span B.
4. Tenkan Sen is still below the Kinjun Sen and still makes a flat line (Trendless) and both of them are still below the “Kumo’s”.
Taken into account these four facts, we believe Gold still has got a downside pressure for this week. However, if this week it can pass the level of 1,470.34, gold will try to test the Monthly Resistance, created by the Monthly Chikou Span at the 1,497.09.
In the opposite ways, if the Weekly Tenkan Sen Line, acting as a dynamic Resistance, is strong enough to hold the price movement, then Gold will be back to the downside again to test the Weekly Resistance created by the Weekly Chikou Span at the 1,402.75 level.
Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
http://instaforex.com
Email: [email protected]
Yahoo Messenger and Skype: Arief.ifx_jakarta
blog.mt5.com/arief
http://www.mt5.com/forex_analysis_award/profile/index/arief
Disclaimer:
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
The material has been provided by InstaForex Company – www.instaforex.com
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