Ichimoku cloud analysis: EUR/USD, Brent, XAU/USD
|EUR/USD, “Euro vs US Dollar”
EUR/USD has secured under the support level. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the Tenkan-Sen line at 1.0785 is expected, followed by a decline to 1.0695. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.0895, which will mean further growth to 1.0985.
Brent
Brent has established itself above the upper boundary of the Double Bottom reversal pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 86.05 is expected, followed by a rise to 89.50. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 84.05, which will mean a further decline to 81.05.
XAU/USD, “Gold vs US Dollar”
Gold is rising within a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 2205 is expected, followed by a rise to 2270. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 2170, which will mean a further decline to 2135.
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.