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Ichimoku Cloud Analysis 05.03.2021 (XAUUSD, USDCHF, GBPUSD)

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1699.00; 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 1705.00 and then resume moving downwards to reach 1655.00. Another signal in favor of a 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 1730.00. In this case, the pair may continue growing towards 1775.00.

XAUUSD
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 0.9289; 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 0.9245 and then resume moving upwards to reach 0.9390. Another signal in favor of a 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 0.9165. In this case, the pair may continue falling towards 0.9075.

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

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3886; 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 1.3950 and then resume moving downwards to reach 1.3635. Another signal in favor of a further downtrend will be a rebound from the resistance area. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.4095. In this case, the pair may continue growing towards 1.4185. To confirm further decline, the asset must break the neckline of a Head & Shoulder reversal pattern and fix below 1.3805.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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