FX.co ★ Short-term Ichimoku cloud indicator analysis of Gold

Gold price remains below key short-term Cloud resistance. Bears have the upper hand as long as price is below $1,700-$1,710. Price is approaching key trend line and cloud resistance now and it is important to see how we end the week.

Black line -trend line resistance

Gold price is at the major short-term resistance area of $1,700-$1,710. Breaking above this level will open the way for a move towards $1,740 and maybe higher. A rejection at current levels will open the way for a move towards $1,680 or lower. A break below $1,670 will open the way for a move towards $1,630.