Ichimoku cloud analysis: BTC/USD, USD/RUB, XAU/USD
|BTC/USD, “Bitcoin vs US Dollar”
BTC/USD is trading at 6673.00; the instrument is moving below Ichimoku Cloud, thus indicating a bearish tendency. The markets could indicate that the price may test the cloud’s downside border at 6725.00 and then resume moving downwards to reach 5625.00. Another signal to confirm further descending movement is the price’s rebounding from the neckline of a Head & Shoulder pattern. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 7105.00. In this case, the pair may continue growing towards 7605.00 without completing the reversal pattern. After breaking the rising channel’s downside border and fixing below 6255.00, the price may resume moving downwards.
USD/RUB, “US Dollar vs Russian Ruble”
USD/RUB is trading at 73.79; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 74.35 and then resume moving downwards to reach 68.75. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 77.55. In this case, the pair may continue growing towards 78.25.
XAU/USD, “Gold vs US Dollar”
XAU/USD is trading at 1683.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1670.00 and then resume moving upwards to reach 1735.00. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1645.00. In this case, the pair may continue falling towards 1595.00.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.