Ichimoku Cloud Analysis 11.05.2022 (GBPUSD, USDJPY, XAUUSD)

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is rebounding from the resistance level. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may re-test Tenkan-Sen and Kijun-Sen at 1.2385 and then resume moving downwards to reach 1.1965 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 1.2545. In this case, the pair may continue growing towards 1.2635. To confirm further decline, the asset must break the bearish channel’s downside border and fix below 1.2145.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is correcting within the bullish channel. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 130.05 and then resume moving upwards to reach 132.65. 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 128.45. In this case, the pair may continue falling towards 127.55.

XAUUSD, “Gold vs US Dollar”

XAUUSD is rebounding from the bearish channel’s downside border. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1865.00 and then resume moving downwards to reach 1775.00. 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 1905.00. In this case, the pair may continue growing towards 1945.00.

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.