Ichimoku cloud analysis: EUR/USD, XAU/USD, USD/JPY
EUR/USD, “Euro vs US Dollar”
EUR/USD is rising within a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.0895 is expected, followed by a rise to 1.1115. 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 finding a foothold under 1.0705, which will mean a further decline to 1.0610.
XAU/USD, “Gold vs US Dollar”
Gold is rebounding from the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1970 is expected, followed by a rise to 2030. An additional signal confirming the rise will be a rebound from the upper boundary of the descending channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 1940, which will mean a further decline to 1900.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY has secured under the lower boundary of the Double Top pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 148.55 is expected, followed by a decline to 145.75. 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 finding a foothold above 151.35, which will mean further growth to 152.25.
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.
