Ichimoku cloud analysis: GBP/USD, XAU/USD, AUD/USD
|GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD has secured above the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.2275 is expected, followed by a rise to 1.2505. An additional 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 securing under 1.2105, which will mean a further decline to 1.2010.
XAU/USD, “Gold vs US Dollar”
Gold is rising upon breaking the upper boundary of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1870 is expected, followed by a rise to 1925. An additional 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 securing under 1810, which will mean a further decline to 1720.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD is rebounding from the Tenkan-Sen line. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 0.6390 is expected, followed by a rise to 0.6525. An additional 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 securing under 0.6330, which will mean a further decline to 0.6235. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the descending channel with the price securing above 0.6465.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.