Gold price is challenging horizontal support and recent lows at $1,850. Price in Ichimoku cloud terms is in bearish short-term trend as in the Daily chart price is below the Kumo (cloud). As long as price is below $1,900 we continue to be short-term bearish expecting a move towards $1,800-$1,750.


Gold price has resistance at $1,906. This is very important price level because there we find the lower cloud boundary and both the tenkan-sen and kijun-sen indicators. The Chikou span (black line indicator) is below the candlesticks and pointing lower. All signs are bearish. The chances favor a push lower towards $1,750-$1,800. Confirmation of this scenario will come with the break of $1,850.The material has been provided by InstaForex Company –

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.