Ichimoku cloud analysis: XAU/USD, USD/JPY, brent

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XAU/USD, “Gold vs US Dollar”

XAU/USD is done moving inside the cloud. The instrument is at present moving above Ichimoku Cloud, accordingly showing a rising propensity. The business sectors could show that the cost might test the cloud’s drawback line at 1840.00 and afterward continue moving upwards to reach 1905.00. One more sign for a further upswing will be a bounce back from the rising channel’s drawback line. Be that as it may, the bullish situation may presently not be legitimate in the event that the cost breaks the cloud’s disadvantage boundary and fixes underneath 1820.00. For this situation, the pair might keep falling towards 1780.00. To affirm a further upswing, the cost should break the plunging channel’s potential gain line and fix above 1855.00.

USD/JPY, “US Dollar vs Japanese Yen”

USD/JPY is developing inside the bullish channel. The instrument is presently moving above Ichimoku Cloud, in this way showing a rising propensity. The business sectors could show that the cost might test Tenkan-Sen at 129.20 and afterward continue moving upwards to reach 132.05. One more sign for a further upswing will be a bounce back from the rising channel’s disadvantage line. In any case, the bullish situation may presently not be legitimate in the event that the cost breaks the cloud’s drawback line and fixes underneath 126.55. For this situation, the pair might keep falling towards 125.65.

Brent

Brent is bouncing back from the bullish channel’s potential gain line. The instrument is at present moving above Ichimoku Cloud, hence showing a rising propensity. The business sectors could show that the cost might test the cloud’s potential gain line at 113.70 and afterward continue moving upwards to reach 125.65. One more sign for a further upswing will be a bounce back from the rising channel’s disadvantage line. In any case, the bullish situation may as of now not be legitimate on the off chance that the cost breaks the cloud’s disadvantage boundary and fixes underneath 108.65. For this situation, the pair might keep falling towards 103.05. To affirm a further upswing, the cost should break the plunging channel’s potential gain boundary and fix above 118.05.

About the author

Nafees Saifi // entrepreneur, author, trainer, and stocks and FX trader. 
Nafees Saifi is a professional FX trader from, India. Nafees has extensive experience trading commodities, bonds, and equity futures in the Asian, European, and US markets. Nafees holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.

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