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Ichimoku Cloud Analysis 17.05.2022 (GBPUSD, XAUUSD, USDCAD)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is correcting within the bearish channel. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2365 and then resume moving downwards to reach 1.1945 Another signal in favour 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 1.2465. In this case, the pair may continue growing towards 1.2555.

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

XAUUSD, “Gold vs US Dollar”

XAUUSD has fixed above Tenkan-Sen and Kijun-Sen. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1850.00 and then resume moving downwards to reach 1735.00. Another signal in favour 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 1880.00. In this case, the pair may continue growing towards 1915.00.

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 no longer moving within the bullish channel. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2875 and then resume moving downwards to reach 1.2595. Another signal in favour of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.3035. In this case, the pair may continue growing towards 1.3125.

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


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