Ichimoku Cloud Analysis 11.12.2020 (GOLD, GBPUSD, EURUSD)
XAUUSD, “Gold vs US Dollar”
GOLD is trading at 1834 above the Ichimoku Cloud, suggesting an uptrend. A test of the upper border of the Cloud at 1825 is expected, followed by growth to 1905. An additional signal supporting the growth can be a bounce off the support level. The scenario can be canceled by a breakaway of the lower border of the Cloud and securing under 1805, which will entail further falling to 1775. The growth can be confirmed by a breakaway of the upper border of the descending channel and securing above 1885.
GBPUSD, “Great Britain Pound vs US Dollar”
The currency pair is trading at 1.3314 under the Ichimoku Cloud, suggesting a downtrend. A test of the Lower border of the Cloud at 1.3355 is expected, followed by falling to 1.3030. An additional signal supporting the decline can be a bounce off the resistance level. The scenario can be canceled by a breakaway of the upper border of the Cloud and securing above 1.3435, which will entail further growth to 1.3525. The falling can be confirmed by a breakaway of the lower border of the Triangle and securing under 1.3190.
EURUSD, “Euro vs US Dollar”
The currency pair is trading at 1.2156 above the Ichimoku Cloud, suggesting an uptrend. A test of the upper border of the Cloud at 1.2095 is expected, followed by growth to 1.2305. An additional signal supporting the growth can be a bounce off the lower border of the ascending channel. The scenario can be canceled by a breakaway of the lower border of the Cloud and securing under 1.2015, which will entail further falling to 1.1925.
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.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.