Ichimoku Cloud Analysis 21.02.2023 (AUDUSD, USDCAD, XAUUSD)

By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair is testing the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 0.6915 is expected, followed by falling to 0.6735. 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 0.6975, which will mean further growth to 0.7065.

USDCAD, “US Dollar vs Canadian Dollar”

The currency pair is pushing off the support level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.3455 is expected, followed by growth to 1.3625. An additional signal confirming the decline 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 1.3325, which will mean further falling to 1.3235.

XAUUSD, “Gold vs US Dollar”

Gold is pushing off the Kijun-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 1845 is expected, followed by falling to 1785. 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 1865, which will mean further growth to 1905.

Article By RoboForex.com

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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.