Ichimoku Cloud Analysis 01.08.2022 (EURUSD, XAUUSD, AUDUSD)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD continues testing the bearish channel’s upside border. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may re-test the cloud’s upside border at 1.0175 and then resume moving upwards to reach 1.0405. 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 1.0085. In this case, the pair may continue falling towards 0.9990. To confirm a further uptrend, the price must break the bearish channel’s upside border and fix above 1.0275.

XAUUSD, “Gold vs US Dollar”

XAUUSD is rebounding from Tenkan-Sen and Kijun-Sen. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Kijun-Sen at 1740.00 and then resume moving upwards to reach 1820.00. 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 1700.00. In this case, the pair may continue falling towards 1655.00.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is growing inside 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 at 0.6960 and then resume moving upwards to reach 0.7150. 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 0.6805. In this case, the pair may continue falling towards 0.6710.

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.