Ichimoku Cloud Analysis 23.10.2023 (GBPUSD, XAUUSD, NZDUSD)

GBPUSD, "Great Britain Pound vs US Dollar"

GBPUSD is testing the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which reveals a downtrend. A test of the lower boundary of the Cloud at 1.2170 is expected, followed by a decline to 1.1965. An additional signal confirming the decline could be a rebound from the upper boundary of the descending channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.2255, which will mean a further rise to 1.2345. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel with the quotes securing under 1.2105.

XAUUSD, "Gold vs US Dollar"

Gold is correcting after a decline. The instrument is going above the Ichimoku Cloud, which reveals an uptrend. A test of the upper boundary of the Cloud at 1970 is expected, followed by a rise to 2025. An additional signal confirming the growth could 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 1945, which implies a further decline to 1905. The rise, meanwhile, might be additionally supported by a breakout of the upper boundary of the descending channel with the quotes securing above 1985.

NZDUSD, "New Zealand Dollar vs US Dollar"

NZDUSD is rebounding from the support level. The instrument is going below the Ichimoku Cloud, revealing a downtrend. A test of the lower indicator boundary at 0.5845 is expected, followed by a decline to 0.5765. An additional signal confirming the growth could be a rebound from the upper boundary of the Triangle pattern. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 0.5980, which will mean further growth to 0.6075. Meanwhile, the the decline could be confirmed by a breakout of the lower boundary of the Triangle pattern with the price securing under 0.5800.