empty
 
 
19.04.2021 05:12 PM
Ichimoku cloud indicator analysis of Gold for April 19, 2021

Gold price made a high today at $1,789 and is now trading at $1,774. Short-term trend remains bullish. Our first target of $1,788 has been achieved and now we wait to see if this up trend continues towards $1,806.

This image is no longer relevant

In the 4 hour chart we see Gold price above the cloud. Trend is bullish as long as price is above the cloud. Above the $1,738 level. Price is moving below the 4 hour tenkan-sen (red line indicator). This is a sign of weakness. A pull back towards the kijun-sen (yellow line indicator) is possible. This support is at $1,756.

This image is no longer relevant

In the Daily chart price has entered the Kumo. Trend has changed from bearish to neutral. In order for Daily trend to change to bullish, price must break the resistance of the upper cloud boundary at $1,817. Daily support is found at $1,756 and $1,740. Holding these levels will keep bulls with high hopes of breaking above $1,817.
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback