Ichimoku cloud analysis: EUR/USD, USD/CAD, XAU/USD

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

EUR/USD is pushing off the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.0665 is expected, followed by a decline to 1.0505. An additional signal confirming the decline will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.0725, which will mean further growth to 1.0815.

USD/CAD, “US Dollar vs Canadian Dollar”

USD/CAD has secured 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 Tenkan-Sen line at 1.3470 is expected, followed by a rise to 1.3605. An additional signal confirming the rise will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 1.3415, which will mean a further decline to 1.3325.

XAU/USD, “Gold vs US Dollar”

Gold is correcting after aggressive growth. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1915 is expected, followed by a rise to 1960. An additional signal confirming the rise will be a rebound from the lower boundary of the ascending channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 1905, which will mean a further decline to 1875.

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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.

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