Ichimoku Cloud Analysis 13.07.2022 (XAUUSD, USDCAD, USDJPY)

XAUUSD, “Gold vs US Dollar”

XAUUSD continues falling inside the bearish channel. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1740.00 and then resume moving downwards to reach 1655.00. Another signal in favour of a further downtrend will be a rebound from the descending 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 1800.00. In this case, the pair may continue growing towards 1840.00.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is rebounding from Tenkan-Sen and Kijun-Sen. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen, at 1.3005 and then resume moving upwards to reach 1.3195. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2920. In this case, the pair may continue to fall towards 1.2815.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has fixed above the resistance area. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Kijun-Sen, at 136.55 and then resume moving upwards to reach 140.80. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 134.70. In this case, the pair may continue to fall towards 133.80. To confirm a further uptrend, the price must break the rising channel’s upside border and fix above 139.05.