FX.co ★ Ichimoku cloud indicator analysis of gold for April 6, 2018

The Gold price behavior so far has been bearish. The weekly candle is screaming rejection and lower prices. Bulls need to push the price back towards $1,350 otherwise they will be in danger of seeing $1,310-$1,300 and why not lower.

On a weekly basis, we see a rejection and a close below the tankan-sen so far. Both signs are bearish. Taking also into consideration the weekly candle formation, things get even more bearish. But today we expect NFP to be announced so we also expect Gold to be affected as well. Weekly support is at $1,302 and I expect it to be tested.