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Ichimoku Cloud Analysis 20.10.2020 (BTCUSD, XAUUSD, NZDUSD)

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 11755.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. As one can see, the cryptocurrency is steadily growing. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 11505.00 and then resume moving upwards to reach 12425.00. 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 10925.00. In this case, the pair may continue falling towards 10305.00. To confirm further growth, the asset must break the rising channel’s upside border and fix above 11965.00.

Ichimoku Cloud Analysis 20.10.2020 BTCUSD
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 1900.00; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. As one can see, bulls have failed to break the resistance level at 1915.00 as the precious metal has rebounded from it for the third consecutive time. The markets could indicate that the price may test the cloud’s upside border at 1905.00 and then resume moving downwards to reach 1835.00. Another signal in favor of further downtrend will be the formation of a Head & Shoulders reversal pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1920.00. In this case, the pair may continue growing towards 1955.00. To confirm further decline, the asset must break the pattern’s neckline and fix below 1885.00.

Ichimoku Cloud Analysis 20.10.2020 XAUUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6562; 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 0.6570 and then resume moving downwards to reach 0.6435. Another signal in favor of further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.6655. In this case, the pair may continue growing towards 0.6745.

Ichimoku Cloud Analysis 20.10.2020 NZDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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