Ichimoku Cloud Analysis 12.11.2020 (AUDUSD, EURUSD, XAUUSD)

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7261; 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 at 0.7280 and then resume moving downwards to reach 0.7165. Another signal in favor of further downtrend will be a rebound from the upside border of the Triangle pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.7315. In this case, the pair may continue growing towards 0.7405. To confirm further decline, the asset must break the pattern’s downside border and fix below 0.7235.

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1764; 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 at 1.1785 and then resume moving downwards to reach 1.1665. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.1865. In this case, the pair may continue growing towards 1.1945.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1869.00; 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 at 1875.00 and then resume moving downwards to reach 1805.00. Another signal in favor of further downtrend will be a rebound from the upside border of a Triangle pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1920.00. In this case, the pair may continue growing towards 1960.00.

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.