Abstract:The Ichimoku Cloud is a method for technical analysis that combines multiple indicators in a single chart. It is used on candlestick charts as a trading tool that provides insights into potential support and resistance price zones
The Ichimoku Cloud is a method for technical analysis that combines multiple indicators in a single chart. It is used on candlestick charts as a trading tool that provides insights into potential support and resistance price zones
EURUSD, “Euro vs US Dollar”
EURUSD is growing in a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower border of the Cloud at 1.0870 is expected, followed by growth to 1.1105. 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 breakout of the lower border of the Cloud and securing under 1.0795, which will mean further falling to 1.0705.
XAUUSD, “Gold vs US Dollar”
Gold is pushing off the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 2005 is expected, followed by growth to 2115. 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 breakout of the lower border of the Cloud and securing under 1965, which will mean further falling to 1905. The scenario of the growth can be confirmed by a breakout of the upper border of the Triangle and securing above 1.0965.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is testing the support area. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 0.6235 is expected, followed by falling to 0.6235. An additional signal confirming the decline will be a rebound from the lower border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud and securing above 0.6305, which will mean further growth to 0.6295.
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