Ichimoku Cloud Analysis 08.10.2021 (GBPUSD, NZDCHF, XAUUSD)

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3594; 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 1.3550 and then resume moving upwards to reach 1.3805. 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 1.3480. In this case, the pair may continue falling towards 1.3390.

NZDCHF, “New Zealand Dollar vs Swiss Franc”

NZDCHF is trading at 0.6438; 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 0.6445 and then resume moving downwards to reach 0.6310. 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 0.6495. In this case, the pair may continue growing towards 0.6585.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1759.00; 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 1750.00 and then resume moving upwards to reach 1815.00. 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 1730.00. In this case, the pair may continue falling towards 1695.00. To confirm further growth, the asset must break the upside border of the Triangle pattern and fix above 1770.00.

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.