27.03.2023 04:55 PM
Ichimoku cloud indicator analysis on Gold for March 27th, 2023.

This image is no longer relevant

Gold price is trading around $1,953. Short-term trend remains bullish as price remains above the Kumo (cloud) in the Daily chart. Gold price is under pressure today as it tests the tenkan-sen (Red line indicator) support. A daily close below the tenkan-sen at $1,947 will open the way for a move lower towards the kijun-sen (yellow line indicator). The kijun-sen provides support at $1,906. A break below the tenkan-sen could also be the start of a bigger pull back towards the Kumo (cloud) at $1,870. Traders need to be cautious as there are topping signs in Gold. The Chikou span (blue line indicator) is above the candlestick pattern (bullish). The tenkan-sen is above the kijun-sen (bullish). So far nothing to worry for bulls. They remain in full control of the trend.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex always strives to help you
    fulfill your biggest dreams.
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In June we raffle $1000 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.
  • 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.
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
  • 30% Bonus
    Receive a 30% bonus every time you top up your account

Recommended Stories

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