Ichimoku cloud analysis: EUR/USD, XAU/USD, USD/CAD
EUR/USD, “Euro vs US Dollar”
The currency pair has secured above the upper border of the Triangle pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.0855 is expected, followed by growth to 1.1065. An additional signal confirming the growth will be a bounce off the upper border of the Triangle pattern. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 1.0635, which will mean further falling to 1.0545.
XAU/USD, “Gold vs US Dollar”
Gold is pushing off the Kijun-Sen line of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1910 is expected, followed by growth to 2000. An additional signal confirming the growth will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 1865, which will mean further falling to 1835.
USD/CAD, “US Dollar vs Canadian Dollar”
The currency pair has left the borders of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 1.3400 is expected, followed by falling to 1.3215. An additional signal confirming the decline will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 1.3525, which will mean further growth to 1.3615.
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.
