Ichimoku Cloud Analysis 16.08.2021(EURUSD, GBPUSD, XAUUSD)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1787; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.1805 and then resume moving downwards to reach 1.1695. Another signal in favor of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may be cancelled if the price breaks the cloud’s upside border and fixes above 1.1820. In this case, the pair may continue growing towards 1.1905. To confirm further decline, the asset must break the bullish channel’s downside border and fix below 1.1750.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3845; 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 1.3865 and then resume moving downwards to reach 1.3695. 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 1.3940. In this case, the pair may continue growing towards 1.4025. To confirm further decline, the asset must break the bullish channel’s downside border and fix below 1.3805.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1773.00; 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 1760.00 and then resume moving upwards to reach 1825.00. 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 1720.00. In this case, the pair may continue falling towards 1685.00. To confirm further growth, the asset must break the descending channel’s upside border and fix above 1795.00.

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.