Stay 
Trading Conditions
Products
Tools
Gold price is trading around $1,840. Price is above the Kumo (cloud) thus in bullish trend in the 4hour chart. Price has broken below the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). These two indicators provided support, but are now resistance levels. Price has provided this sign of weakness making it vulnerable to a pull back towards cloud support at $1,825. We talked in previous post about the scenario of a back test and a pull back towards cloud support. The Chikou span (black line indicator) is above the candlestick pattern but still inside the Kumo. Breaking above the cloud in the 4 hour chart was our first bullish signal after some time. Bulls now need to build on this and start making higher highs and higher lows. In order to defend the bullish short-term trend, price must remain above the cloud. As long as price is above the Kumo, we expect Gold price to form a higher low and then reverse again to the upside.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
We may place cookies for analysis of our visitor data, to improve our website and measure advertising performance. Overall this data is used to provide a better website experience. More information
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of Instant Trading EU Ltd including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.
We are sorry for any inconvenience caused by this message.
