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Ichimoku Cloud Analysis 06.03.2023 (EURUSD, XAUUSD, USDJPY)

EURUSD, “Euro vs US Dollar”

The currency pair is correcting in a descending channel. The instrument is going above the Ichimoku Cloud, which indicates prevalence of an uptrend. A test of the upper border of the Cloud is expected at 1.0610, followed by growth to 1.0795. An additional signal confirming the growth will be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 1.0545, which will mean further falling to 1.0455. On the other hand, the growth can be confirmed by a breakaway of the upper border of the descending channel and securing above 1.0675.

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

XAUUSD, “Gold vs US Dollar”

Gold is growing by a bullish impulse. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line is expected at 1840, followed by growth to 1885. An additional signal confirming the growth could be a rebound from the lower border of the bullish channel. The growth could be cancelled by a breakaway of the lower border of the Cloud and securing under 1810, which will entail further falling to 1775.

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

USDJPY, “US Dollar vs Japanese Yen”

The currency pair is correcting after a rebound from the resistance level. The instrument is going above the Ichimoku Cloud, which indicates prevalence of an uptrend. A test of the lower border of the Cloud is expected at 135.05, followed by growth to 138.85. An additional signal confirming the growth could be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 134.45, which will entail further falling to 133.55.

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


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