Ichimoku Cloud Analysis 01.12.2022 (EURUSD, XAUUSD, USDCAD)

By RoboForex.com

EURUSD, “Euro vs US Dollar”

The currency pair is testing the upper border of the Triangle pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.0360 is expected, followed by growth to 1.0765. 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 1.0245, which will mean further falling to 1.0155. The growth can be supported by a breakaway of the upper border of the Triangle pattern and securing above 1.0555.

XAUUSD, “Gold vs US Dollar”

Gold is getting ready to break through the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1755 is expected, followed by growth to 1855. An additional signal confirming the growth will be a bounce off the upper border of the descening channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 1725, which will mean further falling to 1675.

USDCAD, “US Dollar vs Canadian Dollar”

The currency pair is correcting in a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.3375 is expected, followed by growth to 1.3750. 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 1.3315, which will mean further falling to 1.3220.

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.