Ichimoku Cloud Analysis 17.07.2023 (GBPUSD, XAUUSD, NZDUSD)
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is correcting, forming a bullish Flag pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.3040 is expected, followed by a rise to 1.3305. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 1.2745, which will mean a further decline to 1.2655. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bullish Flag pattern with the price securing above 1.3115.
XAUUSD, “Gold vs US Dollar”
Gold rebounds from the resistance level of 1965. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1945 is expected, followed by a rise to 1980. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 1910, which will mean a further decline to 1875.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has secured under the Tenkan-Sen line of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 0.6310 is expected, followed by a rise to 0.6480. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 0.6110, which will mean a further decline to 0.6015.
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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