FxWirePro- Gold Daily outlook

Ichimoku Analysis (4-hour chart)

Tenken-Sen- $1859.48

Kijun-Sen- $1850.24

Gold is trading higher for the third consecutive week and surged nearly $100 on Russia and Ukraine's geopolitical tension.  Russia continues to move troops to the border of Ukraine has increased fears of the marketplace. The demand for safe-haven assets like gold supports the yellow metal at lower prices. Gold hits a high of $1879.58  and is currently trading around $1877.98.

Factors to watch for gold price action-

 Global stock market- Bearish (positive for gold)

US dollar index –Bullish (negative for gold)

US10-year bond yield- Bullish (negative for gold)

Technical:

The near–term support is around $1860, violation below targets $1840/$1830/$1818. Significant reversal only below $1750.The yellow metal faces strong resistance of $1880, any violation above will take to the next level $1900/$1912/1925 is possible.

It is good to buy on dips for $1840 with SL around $1820 for TP of $1900.