Ichimoku cloud analysis: GBP/USD, NZD/USD, XAU/USD
|GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD is correcting in a Triangle pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the indicator at 1.2465 is expected, followed by a decline to 1.2295. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 1.2565, which will mean further growth to 1.2655. Meanwhile, the decline could be confirmed by a breakout of the lower border of the Triangle pattern, securing under 1.2385.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD is pushing off the upper border of a Double Bottom reversal pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower border of the Cloud at 0.6255 is expected, followed by a rise to 0.6375. An additional signal confirming the rise will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the lower border of the Cloud, securing under 0.6210, which will mean a further decline to 0.6115.
XAU/USD, “Gold vs US Dollar”
Gold is testing the lower border of a Triangle pattern. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the Tenkan-Sen line at 1980 is expected, followed by a decline to 1915. An additional signal confirming the decline will be a rebound from the upper border of the Triangle pattern. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 2010, which will mean further growth to 2045. Meanwhile, the decline could be confirmed by a breakout of the lower border of the Triangle pattern, securing under 1950.
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