Ichimoku Cloud Analysis 17.06.2021 (GBPUSD, XAUUSD, USDCHF)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3990; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.4005 and then resume moving downwards to reach 1.3995. Another signal in favor of a further downtrend will be a rebound from the bearish channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.4150. In this case, the pair may continue growing towards 1.4245.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1815.00; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1840.00 and then resume moving downwards to reach 1765.00. Another signal in favor of a further downtrend will be a rebound from the bearish channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1870.00. In this case, the pair may continue growing towards 1905.00.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading at 0.9090; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the support area at 0.9060 and then resume moving upwards to reach 0.9195. Another signal in favor of a further uptrend will be a rebound from the upside border of a Double Bottom reversal pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.8945. In this case, the pair may continue falling towards 0.8855.