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Ichimoku Cloud Analysis 04.06.2020 (EURUSD, XAUUSD, BTCUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1217; 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 1.1185 and then resume moving upwards to reach 1.1350. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 1.1130. In this case, the pair may continue falling towards 1.1045.

Ichimoku Cloud Analysis 04.06.2020 EURUSD
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 1702.00; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1710.00 and then resume moving downwards to reach 1670.00. Another signal in favor of 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 1725.00. In this case, the pair may continue growing towards 1755.00.

Ichimoku Cloud Analysis 04.06.2020 XAUUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 9625.00; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 9715.00 and then resume moving downwards to reach 8805.00. Another signal in favor of further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 9965.00. In this case, the pair may continue growing towards 10455.00. To confirm further decline, the asset must break the support level and fix below 9215.00, thus completing a Head & Shoulders reversal pattern.

Ichimoku Cloud Analysis 04.06.2020 BTCUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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