Ichimoku Cloud Analysis 05.01.2021 (XAUUSD, EURUSD, USDJPY)

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1938.00; 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 1915.00 and then resume moving upwards to reach 2005.00. 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 1855.00. In this case, the pair may continue falling towards 1815.00. To confirm further growth, the asset must break the rising channel’s upside border and fix above 1955.00.

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2271; 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 1.2230 and then resume moving upwards to reach 1.2415. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 1.2185. In this case, the pair may continue falling towards 1.2105.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 102.94; 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 103.35 and then resume moving downwards to reach 102.05. 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 103.85. In this case, the pair may continue growing towards 104.75.

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.