Ichimoku Cloud Analysis 17.10.2023 (GBPUSD, XAUUSD, AUDUSD)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has rebounded from the upper boundary of the Cloud. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the upper boundary of the Cloud at 1.2255 is expected, followed by a decline to 1.1995. A 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 1.2265, which will mean further growth to 1.2355. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel with the price securing under 1.2090.

XAUUSD, “Gold vs US Dollar”

Gold is correcting within a Triangle pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1905 is expected, followed by a rise to 1980. 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 1835, which will mean a further decline to 1805. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the Triangle pattern with the price securing above 1925.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is rising after a rebound from the support level of 0.6290. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 0.6375 is expected, followed by a decline to 0.6235. 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 0.6410, which will mean further growth to 0.6505.