Ichimoku cloud analysis: XAG/USD, AUD/USD, EUR/GBP
XAG/USD, “Silver vs US Dollar”
XAG/USD is trading at 25.10; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 24.65 and then resume moving upwards to reach 26.95. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 24.05. In this case, the pair may continue falling towards 23.15. To confirm further growth, the asset must break the resistance level and fix above 25.85.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD is trading at 0.7346; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7285 and then resume moving upwards to reach 0.7485. Another signal in favour of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.7135. In this case, the pair may continue falling towards 0.7045. To confirm further growth, the asset must break the rising channel’s upside border and fix above 0.7385.
EUR/GBP, “Euro vs Great Britain Pound”
EUR/GBP is trading at 0.8261; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.8305 and then resume moving downwards to reach 0.8155. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.8395. In this case, the pair may continue growing towards 0.8485. To confirm further decline, the asset must break the descending channel’s downside border and fix below 0.8235.
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.
