Ichimoku Cloud Analysis 19.10.2023 (GBPUSD, NZDUSD, XAUUSD)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has secured under the lower boundary of the Triangle pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.2145 is expected, followed by a decline to 1.1945. An additional signal confirming the decline will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.2260, which will mean further growth to 1.2355.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD has broken an important support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 0.5875 is expected, followed by a decline to 0.5735. 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 0.5985, which will mean further growth to 0.6075.

XAUUSD, “Gold vs US Dollar”

Gold is correcting within a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1940 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 1920, which will mean a further decline to 1885. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the descending channel with the price securing above 1945.