Ichimoku cloud analysis: GBP/USD, XAU/USD, USD/CHF
|GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD is pushing off the support area. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.2460 is expected, followed by a decline to 1.2275. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 1.2595, which will mean further growth to 1.2685.
XAU/USD, “Gold vs US Dollar”
Gold is testing the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. Another test of the Tenkan-Sen line at 1975 is expected, followed by a decline to 1915. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 2045, which will mean further growth to 2075.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF is correcting inside a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 0.9015 is expected, followed by a rise to 0.9135. An additional signal confirming the rise will be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a breakout of the lower border of the Cloud, securing under 0.8875, which will mean a further decline to 0.8785.
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.