Ichimoku Cloud Analysis 07.07.2020 (EURUSD, XAUUSD, USDRUB)
EURUSD, “Euro vs US Dollar”
EURGBP is trading at 1.1304; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.1210 and then resume moving upwards to reach 1.1385. Another signal in favor of further uptrend will be a rebound from the support level. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 1.1240. In this case, the pair may continue falling towards 1.1185.
XAUUSD, “Gold vs US Dollar”
XAUUSD is trading at 1784.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1780.00 and then resume moving upwards to reach 1805.00. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1765.00. In this case, the pair may continue falling towards 1735.00.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is trading at 71.50; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 70.95 and then resume moving upwards to reach 73.05. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 69.65. In this case, the pair may continue falling towards 68.15.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.