Ichimoku Cloud Analysis 02.03.2023 (EURUSD, GBPUSD, XAUUSD)
EURUSD, “Euro vs US Dollar”
EURUSD has pushed off the upper border of the descending channel. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the upper border of the Cloud at 1.0655 is expected, followed by falling to 1.0435. A 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 1.0720, which will mean further growth to 1.0815. The scenario can be confirmed by a breakaway of the lower border of the bullish channel and securing under 1.0605.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is correcting inside a Triangle pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 1.2030 is expected, followed by falling to 1.1735. 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 1.2135, which will mean further growth to 1.2225. The scenario can be confirmed by a breakaway of the lower border of the Triangle pattern and securing under 1.1905.
XAUUSD, “Gold vs US Dollar”
Gold is testing the resistance level. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the upper border of the Cloud at 1835 is expected, followed by falling to 1775. A 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 1850, which will mean further growth to 1875. The scenario can be confirmed by a breakaway of the lower border of the bullish channel and securing under 1820.
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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