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Ichimoku Cloud Analysis 15.06.2020 (EURUSD, XAUUSD, USDCAD)

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1239; 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 1.1305 and then resume moving downwards to reach 1.1055. Another signal in favor of further downtrend will be a rebound from the downside border of the Double Top reversal pattern. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.1345. In this case, the pair may continue growing towards 1.1434.

Ichimoku Cloud Analysis 15.06.2020 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 1721.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 1700.00 and then resume moving upwards to reach 1775.00. Another signal in favor of further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1690.00. In this case, the pair may continue falling towards 1645.00. To confirm further growth, the asset must break the neckline of a Head & Shoulders reversal pattern and fix above 1745.00.

Ichimoku Cloud Analysis 15.06.2020 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 1.3663; 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 1.3570 and then resume moving upwards to reach 1.3915. Another signal in favor of 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 1.3370. In this case, the pair may continue falling towards 1.3285.

Ichimoku Cloud Analysis 15.06.2020 USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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