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Analytical Reviews

Ichimoku Indicator

24.11.202317:27 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on Gold for November 24th, 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 24.11.2023 analysis

Gold price is trading once again around $2,000. Short-term trend remains bullish as price is still above the Kumo (cloud) support. The Chikou span (black line indicator) remains above the candlestick pattern (bullish). Price is still above the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). The tenkan-sen provides support at $1,996 and the kijun-sen at $1,985. The most important indicator is the kijun-sen. Failure to hold above it will lead price towards the upper cloud boundary at $1,976. Bulls remain in control of the trend.

Alexandros Yfantis
Analytical expert of InstaForex
© 2007-2025

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