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Ichimoku Cloud Analysis 26.11.2020 (XRPUSD, XAUUSD, USDCAD)

XRPUSD, “Ripple vs US Dollar”

XRPUSD is trading at 0.5537; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. Bulls haven’t been able to break the resistance area at 0.7950. The markets could indicate that the price may test the cloud’s downside border at 0.6205 and then resume moving downwards to reach 0.3365. Another signal in favor of further downtrend will be a rebound from the broken trendline However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.7010. In this case, the pair may continue growing towards 0.7225.

Ichimoku Cloud Analysis 26.11.2020 XRPUSD
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 1807.00; 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 1810.00 and then resume moving downwards to reach 1765.00. 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 1845.00. In this case, the pair may continue growing towards 1875.00.

Ichimoku Cloud Analysis 26.11.2020 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 1.3005; 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 1.3015 and then resume moving downwards to reach 1.2945. Another signal in favor of further downtrend will be a rebound from the upside border of the Triangle pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.3065. In this case, the pair may continue growing towards 1.3145. To confirm further decline, the asset must break the pattern’s downside border and fix below 1.2975.

Ichimoku Cloud Analysis 26.11.2020 USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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