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Ichimoku Indicator

14.02.202218:13 Forex Analysis & Reviews: Gold breaks higher to new highs.

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Gold price is at $1,868. Gold price has reached our $1,850-60 target. Trend remains bullish as price continues making higher highs and higher lows. Gold price has also broken out of the long-term triangle pattern. It is too early to talk about a confirmed breakout, nevertheless bulls are in control.

Exchange Rates 14.02.2022 analysis

In Ichimoku cloud terms, Gold price is in a bullish trend also. Support by the tenkan-sen (red line indicator) is at $1,845 and by the kijun-sen (yellow line indicator) at $1,843. If price breaks below this level, we should expect a bigger pull back towards $1,815. A short-term pull back towards $1,840 is justified as the RSI has reached overbought levels.
Alexandros Yfantis
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