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Ichimoku Cloud Analysis 11.01.2021 (USDCHF, XAUUSD, USDJPY)

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading at 0.8879; 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 0.8825 and then resume moving upwards to reach 0.9060. Another signal in favor of further uptrend will be a rebound from the descending channel’s upside border, which was broken upwards earlier. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.8745. In this case, the pair may continue falling towards 0.8655. To confirm further growth, the asset must break the neckline of a Head & Shoulders reversal pattern and fix above 0.8925, thus indicating the start of the pattern materialization.

Ichimoku Cloud Analysis 11.01.2021 USDCHF
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 1842.00; 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 1865.00 and then resume moving downwards to reach 1760.00. Another signal in favor of further downtrend will be a rebound from the resistance level. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1930.00. In this case, the pair may continue growing towards 1975.00. To confirm further decline, the asset must break the rising channel’s downside border and fix below 1800.00.

Ichimoku Cloud Analysis 11.01.2021 XAUUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 104.15; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 103.85 and then resume moving upwards to reach 105.55. Another signal in favor of further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 102.65. In this case, the pair may continue falling towards 103.75.

Ichimoku Cloud Analysis 11.01.2021 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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