Ichimoku Cloud Analysis 06.07.2021 (AUDUSD, EURJPY, XAUUSD)
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7579; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.7545 and then resume moving upwards to reach 0.7670. Another signal in favor of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.7475. In this case, the pair may continue falling towards 0.7385. To confirm further growth, the asset must break the descending channel’s upside border and fix above 0.7605.
EURJPY, “Euro vs Japanese Yen”
EURJPY is trading at 131.65; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 131.45 and then resume moving upwards to reach 133.15. Another signal in favor of a further uptrend will be a rebound from the downside border of the Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 131.05. In this case, the pair may continue falling towards 130.10. To confirm further growth, the asset must break the pattern’s upside border and fix above 132.55.
XAUUSD, “Gold vs US Dollar”
XAUUSD is trading at 1805.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1790.00 and then resume moving upwards to reach 1870.00. Another signal in favor of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1755.00. In this case, the pair may continue falling towards 1705.00.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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