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Analytical Reviews

Ichimoku Indicator

24.09.202114:23 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on Gold for Septmber 24, 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 remains in a bearish trend. Price got rejected at the cloud resistance of the 4 hour chart. Price is making lower lows and lower highs. Any attempt to break above short-term resistance has failed. Bears remain in control of the trend.

Exchange Rates 24.09.2021 analysis

Resistance by the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator) is at $1,756 and $1,762. As long as price is below these levels short-term trend remains weak. The RSI has not made a new lower low after today's new low. This is a bullish divergence. This justifies a bounce higher maybe towards cloud resistance at $1,763. This is just a warning and not a reversal signal. I expect Gold to make new lower lows before starting a bigger bounce.

Alexandros Yfantis
Analytical expert of InstaForex
© 2007-2025

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