FX.co ★ Ichimoku cloud indicator analysis on Gold for March 27th, 2023.

Gold price is trading around $1,953. Short-term trend remains bullish as price remains above the Kumo (cloud) in the Daily chart. Gold price is under pressure today as it tests the tenkan-sen (Red line indicator) support. A daily close below the tenkan-sen at $1,947 will open the way for a move lower towards the kijun-sen (yellow line indicator). The kijun-sen provides support at $1,906. A break below the tenkan-sen could also be the start of a bigger pull back towards the Kumo (cloud) at $1,870. Traders need to be cautious as there are topping signs in Gold. The Chikou span (blue line indicator) is above the candlestick pattern (bullish). The tenkan-sen is above the kijun-sen (bullish). So far nothing to worry for bulls. They remain in full control of the trend.