Ichimoku Cloud Analysis 24.12.2020 (CADCHF, XAUUSD, USDCAD)

Article By RoboForex.com

CADCHF, “Canadian Dollar vs Swiss Franc”

CADCHF is trading at 0.6907; 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 0.6915 and then resume moving downwards to reach 0.6835. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.6950. In this case, the pair may continue growing towards 0.7045.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1876.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 1865.00 and then resume moving upwards to reach 1970.00. 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 1840.00. In this case, the pair may continue falling towards 1805.00.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2847; 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 1.2835 and then resume moving upwards to reach 1.3035. 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 1.2735. In this case, the pair may continue falling towards 1.2645. To confirm further growth, the asset must break the upside border of the Triangle pattern and fix above 1.2925.

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.