Ichimoku Cloud Analysis 06.07.2022 (GBPUSD, XAUUSD, USDCAD)
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is about to break the support level. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen at 1.2035 and then resume moving downwards to reach 1.1575 Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.2295. In this case, the pair may continue growing towards 1.2385.
XAUUSD, “Gold vs US Dollar”
XAUUSD is testing the bearish channel’s downside border. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen at 1795.00 and then resume moving downwards to reach 1715.00. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1835.00. In this case, the pair may continue growing towards 1875.00.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has fixed above the bearish channel’s upside border. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2925 and then resume moving upwards to reach 1.3345. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2815. In this case, the pair may continue falling towards 1.2725.
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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