Daily FX:
"The XAU/USD pair is currently trading at the 1251.70 level which converges with the top of the Ichimoku cloud on the 4-hour time frame. If the bulls are planning to push gold prices higher, this might be a good opportunity because the cloud (which represents the resistance in our case) is thin. The thickness of the Ichimoku cloud is important because the thicker the cloud, the less likely it is that prices will manage a sustained break through it. The thinner the Ichimoku cloud, a break through has a better chance. If the bulls manage to keep gold prices above the cloud on the 4-hour chart, you may also have a bullish Tenkan-sen (nine-period moving average, red line) - Kijun-sen line (twenty six-day moving average, green line) cross."
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