Ichimoku Cloud Analysis 13.05.2024 (EURUSD, XAUUSD, NZDUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is rebounding from the indicator’s signal lines. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s upper boundary at 1.0755 is expected, followed by a rise to 1.0885. 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 below 1.0705, indicating a further decline to 1.0610.

XAUUSD, "Gold vs US Dollar"

Gold is declining after a rebound from the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 2335 is expected, followed by a rise to 2415. 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 below 2285, which will signal a further decline to 2245.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is correcting within a Triangle pattern. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s upper boundary at 0.5995 is expected, followed by a rise to 0.6095. 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 below 0.5950, indicating a further decline to 0.5860. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the Triangle pattern, with the price finding a foothold above 0.6040.