Ichimoku Cloud Analysis 05.11.2020 (BTCUSD, AUDUSD, XAUUSD)

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 14343.00; 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 14110.00 and then resume moving upwards to reach 14855.00. 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 13425.00. In this case, the pair may continue falling towards 12505.00.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7168; 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 0.7125 and then resume moving upwards to reach 0.7310. 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 0.7015. In this case, the pair may continue falling towards 0.6925.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1907.00; 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 1895.00 and then resume moving upwards to reach 1955.00. Another signal in favor of 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 1875.00. In this case, the pair may continue falling towards 1845.00. To confirm further growth, the asset must break the descending channel’s upside border and fix above 1915.00.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.