Ichimoku cloud analysis: EUR/USD, USD/CAD, XAU/USD
EUR/USD, “Euro vs US Dollar”
EURUSD is correcting in a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.0910 is expected, followed by growth to 1.1145. An additional signal confirming the decline 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 and securing under 1.0840, which will mean further falling to 1.0745.
USD/CAD, “US Dollar vs Canadian Dollar”
USD/CAD is pushing off the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.3405 is expected, followed by falling to 1.3145. 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 and securing above 1.3535, which will mean further growth to 1.3625.
XAU/USD, “Gold vs US Dollar”
Gold is testing the upper border of the Cloud. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the lower border of the Cloud at 1990 is expected, followed by growth to 2085. A signal confirming the growth 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 and securing under 1975, which will mean further falling to 1935. The growth can be confirmed by a breakout of the upper border of the descending channel and securing above 2010.
Author
RoboForex Team
RoboForex
RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.
