Ichimoku Cloud Analysis 28.09.2022 (EURUSD, XAUUSD, USDCAD)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is testing the support area. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen at 0.9575 and then resume moving downwards to reach 0.9285. 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 0.9835. In this case, the pair may continue growing towards 0.9925.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading inside the bearish channel. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen at 1630.00 and then resume moving downwards to reach 1580.00. 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 1685.00. In this case, the pair may continue growing towards 1725.00.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD 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 Tenkan-Sen at 1.3675 and then resume moving upwards to reach 1.4155. 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 1.3170. In this case, the pair may continue falling towards 1.3085.

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.