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Ichimoku Cloud Analysis 06.12.2023 (GBPUSD, XAUUSD, USDCAD)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is rebounding from the resistance. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.2620 is expected, followed by a decline to 1.2525. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 1.2675, which will mean further growth to 1.2765.

Ichimoku Cloud Analysis 06.12.2023 GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is correcting within a forming bullish Wolfe Wave. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the lower boundary of the Cloud at 2015 is expected, followed by a rise to 2065. A signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 1995, which will mean a further decline to 1975.

Ichimoku Cloud Analysis 06.12.2023 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 has secured above the indicator’s signal lines. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.3585 is expected, followed by a decline to 1.3455. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 1.3695, which will mean further growth to 1.3785. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel with the price finding a foothold under 1.3535.

Ichimoku Cloud Analysis 06.12.2023 USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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