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Ichimoku Cloud Analysis 02.05.2024 (EURUSD, XAUUSD, AUDUSD)

EURUSD, “Euro vs US Dollar”

EURUSD has found a foothold above the upper boundary of the descending channel. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s lower boundary at 1.0675 is expected, followed by a rise to 1.0805. An additional signal confirming the rise will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 1.0635, indicating a further decline to 1.0545.

Ichimoku Cloud Analysis 02.05.2024 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 testing the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Cloud’s lower boundary at 2335 is expected, followed by a decline to 2245. An additional signal confirming the decline will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud, with the price securing above 2365, which will signal a further rise to 2405.

Ichimoku Cloud Analysis 02.05.2024 gold
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, "Australian Dollar vs US Dollar"

AUDUSD is on the rise following a bearish correction. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s upper boundary at 0.6515 is expected, followed by a rise to 0.6635. An additional signal confirming the rise will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 0.6415, which will indicate a further decline to 0.6425.

Ichimoku Cloud Analysis 02.05.2024 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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