Ichimoku Cloud Analysis 21.02.2024 (GBPUSD, XAUUSD, USDCAD)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is rebounding from the support level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.2605 is expected, followed by a rise to 1.2720. An additional signal confirming the rise might 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 finding a foothold under 1.2570, which will mean a further decline to 1.2480.

XAUUSD, “Gold vs US Dollar”

Gold has found a foothold under the upper boundary of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 2025 is expected, followed by a rise to 2065. An additional signal confirming the rise might 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 finding a foothold under 1990, which will mean a further decline to 1960. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bearish channel with the price finding a foothold above 2040.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is rising within a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 1.3490 is expected, followed by a rise to 1.3620. An additional signal confirming the rise might 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 finding a foothold under 1.3445, which will mean a further decline to 1.3355.