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Ichimoku Cloud Analysis 06.03.2020 (GBPUSD, XAUUSD, USDCAD)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.2950; 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 1.2880 and then resume moving upwards to reach 1.3105. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.2765. In this case, the pair may continue falling towards 1.2685. After breaking the descending channel’s upside border and fixing above 1.3010, the price may resume moving upwards.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1679.00; 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 1655.00 and then resume moving upwards to reach 1725.00. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1600.00. In this case, the pair may continue falling towards 1565.00.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3406; 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 1.3375 and then resume moving upwards to reach 1.3525. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.3305. In this case, the pair may continue falling towards 1.3185. After breaking the Triangle’s upside border and fixing above 1.3450, the price may resume moving upwards.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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