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Analytical Reviews

Ichimoku Indicator

20.07.202317:20 Forex Analysis & Reviews: Ichimoku cloud indicator on Gold for July 20th, 2023.

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.

Exchange Rates 20.07.2023 analysis

Gold price is trading around $1,968, Price is showing rejection signs at the cloud resistance and currently price is below the Kumo once again. Two days ago Gold price closed inside the Kumo and turned short-term trend to neutral. We warned that a rejection here is possible as price was testing important resistance. The Chikou span (black line indicator) remains bullish as it is still above the candlestick pattern. The tenkan-sen (Red line indicator) provides support at $1,949 and the kijun-sen (yellow line indicator) at $1,938. Trading below the cloud makes price vulnerable to a pull back towards the tenkan-sen and kijun-sen. Resistance remains at $1,975 where we find the lower cloud boundary. Trend change to bullish happens only if price breaks above $2,002

Alexandros Yfantis
Analytical expert of InstaForex
© 2007-2025

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