Ichimoku Cloud Analysis 04.10.2022 (EURUSD, XAUUSD, USDCHF)

October 4, 2022

EURUSD, “Euro vs US Dollar”

EURUSD is 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 test the cloud’s upside border at 0.9760 and then resume moving upwards to reach 1.0085. 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 0.9605. In this case, the pair may continue falling towards 0.9510. To confirm a further uptrend, the price must break the bearish channel’s upside border and fix above 0.9895.

XAUUSD, “Gold vs US Dollar”

XAUUSD is about to break another resistance level. 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 1680.00 and then resume moving upwards to reach 1755.00. 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 1630.00. In this case, the pair may continue falling towards 1605.00.

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USDCHF, “US Dollar vs Swiss Franc”

USDCHF has rebounded from the resistance level. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.9870 and then resume moving upwards to reach 1.0140. 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 0.9725. In this case, the pair may continue falling towards 0.9635.

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.

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Ichimoku Cloud Analysis 04.10.2022 (EURUSD, XAUUSD, USDCHF)