Ichimoku cloud analysis: EUR/GBP, XAU/USD, USD/JPY
|EUR/GBP, “Euro vs Great Britain Pound”
EUR/GBP is trading at 0.9074; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.9065 and then resume moving upwards to reach 0.9225. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 0.8980. In this case, the pair may continue falling towards 0.8895.
XAU/USD, “Gold vs US Dollar”
XAU/USD is trading at 1783.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1775.00 and then resume moving upwards to reach 1805.00. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1755.00. In this case, the pair may continue falling towards 1715.00.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY is trading at 107.60; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 107.40 and then resume moving upwards to reach 108.50. Another signal is favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 107.20. In this case, the pair may continue falling towards 106.35.
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