Ichimoku cloud analysis: XRP/USD, XAU/USD, USD/JPY
XRP/USD, “Ripple vs US Dollar”
XRPUSD is trading at 0.5627; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.5225 and then resume moving upwards to reach 0.7105. Another signal in favor of further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.4645. In this case, the pair may continue falling towards 0.4075.
XAU/USD, “Gold vs US Dollar”
XAUUSD is trading at 1869.00; 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 1845.00 and then resume moving upwards to reach 1925.00. Another signal in favor of 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 1810.00. In this case, the pair may continue falling towards 1775.00.
USD/JPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 103.29; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 103.45 and then resume moving downwards to reach 102.65. Another signal in favor of further downtrend will be a rebound from the resistance level. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 103.90. In this case, the pair may continue growing towards 104.85.
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.
