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Ichimoku Cloud Analysis 08.06.2020 (XAUUSD, USDCAD, USDCHF)

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1690.00; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1698.00 and then resume moving downwards to reach 1645.00. 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 1720.00. In this case, the pair may continue growing towards 1750.00.

Ichimoku Cloud Analysis 08.06.2020 XAUUSD
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 1.3423; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.3465 and then resume moving downwards to reach 1.3255. 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 1.3565. In this case, the pair may continue growing towards 1.3655.

Ichimoku Cloud Analysis 08.06.2020 USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading at 0.9630; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.9655 and then resume moving downwards to reach 0.9535. 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 0.9685. In this case, the pair may continue growing towards 0.9775.

Ichimoku Cloud Analysis 08.06.2020 USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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