Ichimoku Cloud Analysis 31.10.2022 (GBPUSD, XAUUSD, USDCAD)

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

The pair is pushing off the signal lines of the indicator, going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.1420 is expected, followed by growth to 1.1935. An additional signal confirming the growth will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 1.1225, which will mean further falling to 1.1130.

XAUUSD, “Gold vs US Dollar”

Gold is declining inside a bearish channel. The instrument is going under the Ichimoku Cloud, which suggests a downtrend. A test of the upper border of the Cloud at 1645 is expected, followed by falling to 1590. 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 1670, which will mean further growth to 1725.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is testing the Kijun-Sen line. The instrument is going under the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 1.3690 is expected, followed by falling to 1.3330. 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 1.3845, which will mean further growth to 1.3955. The decline will be confirmed by a breakaway of the lower border of the bullish channel and securing under 1.3535.

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.