Ichimoku Cloud Analysis 21.01.2021 (EURUSD, XAUUSD, AUDUSD)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2134; 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 1.2140 and then resume moving downwards to reach 1.1965. Another signal in favor of a further downtrend will be a rebound from the upside border of the Triangle pattern. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.2230. In this case, the pair may continue growing towards 1.2315. To confirm further decline, the asset must break the pattern’s downside border and fix below 1.2040.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1873.00; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 1845.00 and then resume moving upwards to reach 1945.00. Another signal in favor of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1815.00. In this case, the pair may continue falling towards 1780.00. To confirm further growth, the asset must break the cloud’s upside border and fix above 1895.00.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7770; 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 0.7740 and then resume moving upwards to reach 0.7830. Another signal in favor of a 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 0.7665. In this case, the pair may continue falling towards 0.7575.

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.