Ichimoku Cloud Analysis 31.08.2023 (GBPUSD, NZDUSD, XAUUSD)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is pushing off the upper boundary of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.2655 is expected, followed by a rise to 1.2885. 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 1.2590, which will mean a further decline to 1.2495. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the long-term bearish channel with the price securing above 1.2750.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is correcting after a rebound from the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 0.5930 is expected, followed by a rise to 0.6095. An additional signal confirming the rise will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 0.5900, which will mean a further decline to 0.5800. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bearish channel with the price securing above 0.6000.

XAUUSD, “Gold vs US Dollar”

Gold has secured above the Tenkan-Sen line. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1930 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 1895, which will mean a further decline to 1870.