Ichimoku Cloud Analysis 21.03.2022 (EURUSD, USDCAD, XAUUSD)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1042; 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 1.1015 and then resume moving upwards to reach 1.1255. Another signal in favour 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 1.0935. In this case, the pair may continue falling towards 1.0845.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2612; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.2650 and then resume moving downwards to reach 1.2415. Another signal in favour of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.2825. In this case, the pair may continue growing towards 1.2915.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1924.00; 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 1960.00 and then resume moving downwards to reach 1825.00. Another signal in favour 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 1995.00. In this case, the pair may continue growing towards 2065.00. To confirm further decline, the asset must break the rising channel’s downside border and fix below 1905.00.

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.