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Ichimoku Cloud Analysis 08.02.2023 (XAUUSD, USDCHF, BRENT)

XAUUSD, “Gold vs US Dollar”

Gold is correcting, forming a bearish Flag pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line of the Cloud at 1895 is expected, followed by falling to 1825. An additional signal confirming the decline will be a bounce off the upper border of the bearish channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 1920, which will mean further growth to 1945. The decline can be confirmed by a breakaway of the lower border of the bearish Flag pattern and securing under 1855.

GOLD
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 testing the broken border of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 0.9185 is expected, followed by growth to 0.9405. An additional signal confirming the growth will be a bounce off the upper border of the descending channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 0.9110, which will mean further falling to 0.9015.

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

BRENT

Brent is correcting after a strong decline. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 84.50 is expected, followed by falling to 77.50. An additional signal confirming the decline will be a bounce off the upper border of the descending channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 87.00, which will mean further growth to 91.00. The decline can be confirmed by a breakaway of the lower border of the bullish channel and securing under 80.60.

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


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