FX.co ★ Ichimoku cloud indicator analysis on Gold for January 30th, 2023.

Gold price is trading around $1,925. According to the Ichimoku cloud indicator trend remains bullish as price remains above the 4 hour Kumo (cloud). Price tested the cloud support several times so far but support is being respected. The tenkan-sen (red line indicator) has crossed below the kijun-sen (yellow line indicator). If this is combined with a break inside the Kumo, it will be an important sign of weakness. Support remains key at $1,920-$1,900. This $20 range is very important support. A break below it will be a bearish reversal signal. The Chikou span (black line indicator) has already given a bearish signal by moving below the candlestick pattern.