Ichimoku Cloud Analysis 01.12.2020 (BTCUSD, USDCAD, GOLD)

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 19,402 above the Ichimoku Cloud, suggesting an uptrend. A test of the signal lines of the indicator at 19,205 is expected, followed by growth to 20,845. An additional signal confirming the growth will be a bounce off the lower border of the Triangle pattern. The growth will be canceled in the case of a breakaway of the lower border of the Cloud and securing under 17,475, which will mean further decline to 16,705. The growth will be confirmed by a breakaway of the upper border of the Triangle and securing above 19,885.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2965 under the Ichimoku Cloud, indicating a downtrend. A test of the upper border of the Cloud near 1.2985 is expected, followed by falling to 1.2875. An additional signal confirming the falling will be a bounce off the upper border of the descending channel. The decline will be canceled in the case of a breakaway of the upper border of the Cloud and securing above 1.3005, which will mean further growth to 1.3095.

XAUUSD, “Gold vs US Dollar”

GOLD is trading at 1785 under the Ichimoku Cloud, indicating a downtrend. A test of the upper border of the Cloud near 1790 is expected, followed by falling to 1735. An additional signal confirming the falling will be a bounce off the resistance level. The decline will be canceled in the case of a breakaway of the upper border of the Cloud and securing above 1805, which will mean further growth to 1845.

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.