Ichimoku Cloud Analysis 13.11.2020 (LTCUSD, NZDUSD, XAUUSD)

Article By RoboForex.com

LTCUSD, “Litecoin vs US Dollar”

LTCUSD is trading at 62.67; 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 60.05 and then resume moving upwards to reach 68.85. Another signal in favor of further uptrend will be a rebound from the upside border of a Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 55.65. In this case, the pair may continue falling towards 52.05.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6818; 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 0.6770 and then resume moving upwards to reach 0.6995. Another signal in favor of further uptrend will be a rebound from the support level. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 0.6680. In this case, the pair may continue falling towards 0.6555.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1879.00; 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 1885.00 and then resume moving downwards to reach 1815.00. 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 1915.00. In this case, the pair may continue growing towards 1945.00. To confirm further decline, the asset must break the pattern’s downside border and fix below 1850.00.

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.