FX.co ★ Ichimoku cloud indicator Daily analysis of Gold

Gold price is moving higher towards the next resistance level of $1,920. Price is holding above the key support of $1,900 and is making a try to break above the cloud resistance at $1.925-$1.950.

Gold price remains below the Kumo (cloud). Price is above the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). These two indicators provide support at $1,905. If price breaks below this level then we have another confirmed rejection at the cloud and reversal. This would increase dramatically the chances for a move towards $1,850-$1,800. If bulls manage to continue this higher highs and higher lows pattern combined with a break above $1,950, then we have many chances of recapturing the $2,000 price level and even making new all time highs.