Ichimoku Cloud Analysis 12.05.2021 (CHFJPY, USDCHF, XAUUSD)

Article By RoboForex.com

CHFJPY, “Swiss Franc vs Japanese Yen”

CHFJPY is trading at 120.24; 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 119.75 and then resume moving upwards to reach 122.65. Another signal in favor of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 118.55. In this case, the pair may continue falling towards 117.65.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading at 0.9048; 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 0.9095 and then resume moving downwards to reach 0.8875. 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 0.9155. In this case, the pair may continue growing towards 0.9245.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1833.00; 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 1805.00 and then resume moving upwards to reach 1915.00. 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 1770.00. In this case, the pair may continue falling towards 1735.00.

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.