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Analytical Reviews

Ichimoku Indicator

22.07.202116:05 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on Gold for July 22, 2021.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Gold price is at $1,797. Gold price is below the 4hour cloud. This is a sign of weakness. Gold price is vulnerable to a move lower, unless bulls manage to reclaim $1,810.

Exchange Rates 22.07.2021 analysis

The tenkan-sen (red line indicator) resistance is at $1,802.75. The kijun-sen (yellow line indicator) resistance is at $1,809. This is also where we find the lower channel boundary. Bulls need to break above this level in order to have hopes for a move towards $1,855-60. As long as price is below $1,809-10 price will be vulnerable to more downside. As we explained in our last analysis, our expectations are to see Gold form a higher low between $1,880 and $1,890 before moving higher towards $1,855-60.

Alexandros Yfantis
Analytical expert of InstaForex
© 2007-2025

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