Ichimoku cloud analysis: GBP/USD, XAU/USD, USD/CAD
GBP/USD, “Great Britain Pound vs US Dollar”
The currency pair is pushing off the support level. The pair is going under the Ichimoku Cloud, which indicates a downtrend. A test of the lower border of the Cloud is expected at 1.2070, followed by falling to 1.1785. An additional signal confirming the decline will be a bounce off the upper border of the descending channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 1.2265, which will indicate further growth to 1.2355.
XAU/USD, “Gold vs US Dollar”
Gold is correcting in a bullish channel. The instrument is going above the Ichimoku Cloud, which indicates an uptrend. A test of the lower border of the Cloud at 1800 is expected, followed by growth to 1855. 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 1790, which will mean further falling to 1755.
USD/CAD, “US Dollar vs Canadian Dollar”
The currency pair is testing the Tenkan-Sen line. The instrument is going under the Ichimoku Cloud, which signifies a downtrend. A test of the Kijun-Sen line is expected at 1.3560, followed by falling to 1.3355. An additional signal confirming the decline will be a bounce off the upper border of the descending channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 1.3655, which will indicate further growth to 1.3745.
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.
