Ichimoku Cloud Analysis 08.09.2022 (EURUSD, XAUUSD, AUDUSD)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

The pair is correcting after a bounce off a strong support area. It is moving under the Ichimoku Cloud, indicating a downtrend. A test of the upper border of the Cloud is expected at 0.9995, followed by falling to 0.9775. An additional signal confirming the decline will be a bounce off the upper border of the bearish channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 1.0075, which will mean further growth to 1.0165.

XAUUSD, “Gold vs US Dollar”

The pair is pushing off the upper border of the bearish channel, going under the Ichimoku Cloud, which means a downtrend. Another test of the lower border of the Cloud at 1720.00 is expected, followed by a decline to 1655.00. An additional signal confirming the decline will be a bounce off the upper border of the descending channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 1735.00, which will entail further growth to 1775.00. The decline will be confirmed by a breakaway of the lower border of the Triangle pattern and securing under 1685.00.

AUDUSD, “Australian Dollar vs US Dollar”

The pair is testing the signal lines of the indicator, going under the Ichimoku Cloud, which means a downtrend. A test of the lower border of the Cloud at 0.6810 is expected, followed by a decline to 0.6545. An additional signal confirming the decline will be a bounce off the upper border of the descending channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 0.6940, which will entail further growth to 0.7030.

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.