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Ichimoku Cloud Analysis 17.10.2023 (GBPUSD, XAUUSD, AUDUSD)

Written by

Ezekiel Chew

Updated on

October 17, 2023

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GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has rebounded from the upper boundary of the Cloud. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the upper boundary of the Cloud at 1.2255 is expected, followed by a decline to 1.1995. A signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.2265, which will mean further growth to 1.2355. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel with the price securing under 1.2090.

GBPUSD

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is correcting within a Triangle pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1905 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 1835, which will mean a further decline to 1805. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the Triangle pattern with the price securing above 1925.

XAUUSD

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is rising after a rebound from the support level of 0.6290. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 0.6375 is expected, followed by a decline to 0.6235. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 0.6410, which will mean further growth to 0.6505.

AUDUSD

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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