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15.01.202118:45 Analytische Bewertungen Forex: Gold price breaks below the Kumo (cloud) support

Gold price is trading below $1,840. Gold price is breaking out and below the Daily Kumo and this is a bearish sign. The end of the week finds Gold price near its lowest levels and this is not a good sign for next week.

Exchange Rates 15.01.2021 analysis

Gold price remains vulnerable to a move towards $1,800-$1,750. Gold price has resistance the upper cloud boundary at $1,865. We expect today's price action to be followed by more downside over the next couple of weeks with Gold pushing below $1,750. Only if bulls recapture the cloud resistance we can discard the bearish view.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Viele Grüße,
Analytiker: Alexandros Yfantis
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