Ichimoku Cloud Analysis 29.09.2023 (EURUSD, USDJPY, XAUUSD)

EURUSD, “Euro vs US Dollar”

EURUSD has secured above the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.0625 is expected, followed by a decline to 1.0435. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.0695, which will mean further growth to 1.0795. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the corrective channel with the price securing under 1.0535.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is correcting after a rebound from the upper boundary of the bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 148.55 is expected, followed by a rise to 150.95. 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 147.75, which will mean a further decline to 146.85. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bearish channel with the price securing above 149.75.

XAUUSD, “Gold vs US Dollar”

Gold is testing the Tenkan-Sen line after an aggressive decline. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the Tenkan-Sen line at 1875 is expected, followed by a decline to 1840. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1910, which will mean further growth to 1945.