Ichimoku Cloud Analysis 23.04.2021 (EURUSD, AUDNZD, XAUUSD)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2025; 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 1.1975 and then resume moving upwards to reach 1.2225. Another signal in favor of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 1.1950. In this case, the pair may continue falling towards 1.1860. To confirm further growth, the asset must break the descending trendline and fix above 1.2150.

AUDNZD, “Australian Dollar vs New Zealand Dollar”

AUDNZD is trading at 1.0769; 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 1.0790 and then resume moving downwards to reach 1.0710. Another signal in favor of a 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 1.0825. In this case, the pair may continue growing towards 1.0915.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1784.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1765.00 and then resume moving upwards to reach 1845.00. 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 1745.00. In this case, the pair may continue falling towards 1665.00.

Article By RoboForex.com

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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.