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

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

EUR/USD is testing the upper boundary of the descending channel. The pair is going inside the Ichimoku Cloud, which suggests a sideways movement. A test of the Tenkan-Sen line at 1.0705 is expected, followed by a rise to 1.0855. A rebound from the lower boundary of the bullish channel will signal the price rise. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 1.0605, indicating a further decline to 1.0515. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the bearish channel, with the price finding a foothold above 1.0750.

XAU/USD, "Gold vs US Dollar"

Gold is correcting within a bearish Flag pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 2345 is expected, followed by a decline to 2245. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud, with the price securing above 2365, which will signal a further rise to 2405. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the Flag pattern, with the price establishing itself below 2305.

AUD/USD, "Australian Dollar vs US Dollar"

AUD/USD has gained a foothold above the upper boundary of the descending channel. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 0.6495 is expected, followed by a rise to 0.6625. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 0.6395, which will indicate a further decline to 0.6305. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the bearish channel, with the price establishing itself above 0.6565.

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.

EUR/USD climbs to two-week highs beyond 1.1900

EUR/USD is keeping its foot on the gas at the start of the week, reclaiming the 1.1900 barrier and above on Monday. The US Dollar remains on the back foot, with traders reluctant to step in ahead of Wednesday’s key January jobs report, allowing the pair to extend its upward grind for now.

GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold treads water around $5,000

Gold is trading in an inconclusive fashion around the key $5,000 mark on Monday week. Support is coming from fresh signs of further buying from the PBoC, while expectations that the Fed could turn more dovish, alongside concerns over its independence, keep the demand for the precious metal running.

Crypto Today: Bitcoin steadies around $70,000, Ethereum and XRP remain under pressure

Bitcoin hovers around $70,000, up near 15% from last week's low of $60,000 despite low retail demand. Ethereum delicately holds $2,000 support as weak technicals weigh amid declining futures Open Interest. XRP seeks support above $1.40 after facing rejection at $1.54 during the previous week's sharp rebound.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.