Ichimoku cloud analysis: GBP/USD, XAU/USD, USD/CHF
|EUR/USD, "Euro vs US Dollar"
EUR/USD is correcting within a Triangle pattern. The instrument is going under the Ichimoku Cloud, revealing the prevalence of a downtrend. A test of the lower boundary of the Cloud at 1.0955 is expected, followed by a decline to 1.0785. The decrease could be additionally supported by a rebound from the upper boundary of the bearish channel. The scenario might be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 1.1040, which will entail a further rise to 1.1130. Meanwhile, the decline could be additionally supported by a breakout of the lower boundary of the Triangle with the quotes securing under the 1.0895 level.
XAU/USD, "Gold vs US Dollar"
Gold is rebounding from the signal lines of the indicator. The instrument is going under the Ichimoku Cloud, revealing the prevalence of a downtrend. A test of the Kijun-Sen line at 2040 is expected, followed by a decline to 1975. The decrease could be additionally supported by a rebound from the upper boundary of the bearish channel. The scenario might be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 2070, which will entail a further rise to 2105. Meanwhile, the decline could be additionally supported by a breakout of the lower boundary of the bullish channel with the quotes securing under 2025.
USD/CHF, "US Dollar vs Swiss Franc"
USD/CHF is testing the resistance area. The instrument is going above the Ichimoku Cloud, which implies an uptrend. A test of the upper boundary of the Cloud at 0.8490 is expected, followed by a rise to 0.8715. The growth could be additionally supported by a rebound from the lower boundary of the bullish channel. The scenario could be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 0.8405, which will entail a further decline to 0.8305.
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