Ichimoku cloud analysis: EUR/USD, USD/JPY, XAU/USD
|EUR/USD, “Euro vs US Dollar”
EUR/USD is trading at 1.2224; 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 1.2175 and then resume moving upwards to reach 1.2355. Another signal in favor of further uptrend will be a rebound from the support level. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 1.2135. In this case, the pair may continue falling towards 1.2055. To confirm further growth, the asset must break the upside border of a Triangle pattern and fix above 1.2265.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY is trading at 103.46; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 103.65 and then resume moving downwards to reach 102.60. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 104.05. In this case, the pair may continue growing towards 104.95. To confirm further decline, the asset must break the downside border of a Triangle pattern and fix below 103.10.
XAU/USD, “Gold vs US Dollar”
XAU/USD is trading at 1888.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 1875.00 and then resume moving upwards to reach 1950.00. Another signal in favor of further uptrend will be a rebound from the downside border of the Triangle patter. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1845.00. In this case, the pair may continue falling towards 1805.00. To confirm further growth, the asset must break the pattern’s upside border and fix above 1915.00.
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.