Gold price is challenging the 4 hour Kumo (cloud). Trend remains bearish in the 4 hour chart as long as price is below the cloud. Gold price has made a double bottom at $1,677 area and has produced a bounce towards the most important short-term resistance area of $1,720-40.


Support by the tenkan-sen (Red line indicator) is at $1,721. Support by the kijun-sen (yellow line indicator) is at $1,703. If price gets rejected here at the cloud resistance we should expect a pull back towards $1,700. If the support by the kijun-sen is broken, then most likely we will see new lows below $1,677. If we see a higher low around $1,700 and a break above the Kumo (cloud), this would be a very bullish signal that could bring Gold price towards $1,800 again.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.