Ichimoku Cloud Analysis 08.06.2023 (GBPUSD, USDCHF, XAUUSD)

By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is testing the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower border of the Cloud at 1.2410 is expected, followed by a rise to 1.2620. An additional signal confirming the rise will be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a breakout of the lower border of the Cloud, securing under 1.2375, which will mean a further decline to 1.2285. Meanwhile, the increase could be confirmed by a breakout of the upper border of the bearish channel, securing above 1.2535.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is correcting by a Triangle pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower border of the Cloud at 0.9080 is expected, followed by a rise to 0.9205. A signal confirming the rise will be a rebound from the lower border of the Triangle pattern. The scenario can be cancelled by a breakout of the lower border of the Cloud, securing under 0.9020, which will mean a further decline to 0.8925. Meanwhile, the increase could be confirmed by a breakout of the upper border of the Triangle pattern, securing above 0.9120.

XAUUSD, “Gold vs US Dollar”

Gold is pushing off the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 1955 is expected, followed by a decline to 1895. An additional signal confirming the decline will be a rebound from the upper border of the Triangle pattern. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 1970, which will mean further growth to 2005. Meanwhile, the decline could be confirmed by a breakout of the lower border of the Triangle pattern, securing under 1935.

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.