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Ichimoku cloud indicator analysis of Gold for February 2, 2018

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Gold is holding above support although it tested $1,336 yesterday, now it is trading above $1,347 and is challenging cloud resistance. Trend is about to turn bullish again in the 4-hour chart as price is about to break above the cloud. Today's NFP announcement is expected to provide some volatility in Gold prices.

Ichimoku cloud indicator analysis of Gold for January 31, 2018

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Gold price remains near the monthly highs. Price got rejected at the long-term resistance of $1,350 however there is no confirmed reversal here yet. A rejection at the long-term resistance could start a new downward move back below $1,300, if however price manages to recapture the $1,350-55 level, we should expect the resumption of the up trend towards $1,390.

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