Ichimoku Cloud Analysis 14.05.2021 (XAUUSD, AUDUSD, EURGBP)

Article By RoboForex.com

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1828.00; 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 1800.00 and then resume moving upwards to reach 1885.00. 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 1785.00. In this case, the pair may continue falling towards 1745.00. To confirm further growth, the asset must break the descending channel’s upside border and fix above 1835.00.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7730; 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 0.7785 and then resume moving downwards to reach 0.7565. Another signal in favor of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.7825. In this case, the pair may continue growing towards 0.7905. To confirm further decline, the asset must break the support level and fix below 0.7665, thus completing a Head & Shoulders reversal pattern.

EURGBP, “Euro vs Great Britain Pound”

EURGBP is trading at 0.8611; 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 0.8630 and then resume moving downwards to reach 0.8465. Another signal in favor of a further downtrend will be a rebound from the downside border of the Triangle pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.8695. In this case, the pair may continue growing towards 0.8785. To confirm further decline, the asset must break the rising channel’s downside border and fix below 0.8565.

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.