Ichimoku cloud analysis: EUR/USD, USD/JPY, XAG/USD

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

EURUSD is correcting following a rebound from the resistance level. The pair is moving above the Ichimoku Cloud, suggesting an uptrend. A test of the Cloud’s lower boundary at 1.0835 is expected, followed by a rise to 1.0965. A rebound from the lower boundary of the bullish channel would be an additional signal confirming the increase. The scenario could be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 1.0805, indicating a further decline to 1.0715.

USD/JPY, “US Dollar vs Japanese Yen”

USDJPY is testing the indicator’s signal lines. The pair is moving above the Ichimoku Cloud, suggesting an uptrend. A test of the Cloud’s upper boundary at 156.85 is expected, followed by a rise to 158.45. A rebound from the upper boundary of the bearish channel would be an additional signal confirming the increase. The scenario could be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 156.55, indicating a further decline to 155.65.

XAG/USD, “Silver vs US Dollar”

Silver is rising within a bullish channel. The pair is moving above the Ichimoku Cloud, suggesting an uptrend. A test of the Kijun-Sen line at 31.70 is expected, followed by a rise to 33.45. A rebound from the lower boundary of the bullish channel would be an additional signal confirming the increase. The scenario could be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 30.65, indicating a further decline to 29.75.

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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.

EUR/USD deflates to fresh lows, targets 1.1600

The selling pressure on EUR/USD now gathers extra pace, prompting the pair to hit fresh multi-week lows in the 1.1625-1.1620 band on Friday. The continuation of the downward bias comes in response to further gains in the US Dollar as market participants continue to assess the mixed release of US Nonfarm Payrolls in December.

GBP/USD breaks below 1.3400, challenges the 200-day SMA

GBP/USD remains under heavy fire and retreats for the fourth consecutive day on Friday. Indeed, Cable suffers the strong performance of the Greenback, intensified post-mixed NFP, and trades at shouting distance from its critical 200-day SMA near 1.3380.

Gold flirts with yearly tops around $4,500

Gold keeps its positive bias on Friday, adding to Thursday’s advance and challenging yearly highs in the $4,500 region per troy ounce. The risk-off sentiment favours the yellow metal despite the firmer tone in the Greenback and rising US Treasury yields.