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Ichimoku Indicator

23.12.201922:18 Forex Analysis & Reviews: Gold price implies bullish trend reversal

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Gold price is about to exit the downward sloping channel. Gold price is entering the Ichimoku cloud turning Daily trend to neutral from bearish. Gold has the potential to enter bullish trend if bulls recapture $1,490-$1,500.

Exchange Rates 23.12.2019 analysis

Blue lines -bearish channel

Gold price is making higher highs and higher lows. Gold price is breaking above the upper channel boundary resistance. Gold price has support at $1,474-67. Resistance is at $1,494 by the upper cloud boundary.

Exchange Rates 23.12.2019 analysis

Red lines- bearish channel

Gold price has entered the Kumo turning trend to neutral. Price is above both the tenkan- and kijun-sen. Price must break above the Kumo in order for trend to change to bullish. If trend changes to bullish then we could even see $1,550-$1,600 over the coming weeks. Recapturing $1,500 is key.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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