Ichimoku Cloud Analysis 27.09.2023 (EURUSD, XAUUSD, BRENT)

EURUSD, “Euro vs US Dollar”

EUR/USD has encountered resistance at the Tenkan-Sen line and is now poised to move below the Ichimoku Cloud, pointing towards a potential downtrend. It is anticipated that the instrument will undergo a test of the lower boundary of the Cloud at 1.0585, followed by a decline to 1.0485. Another significant confirmation of this downward movement would be a rebound from the upper boundary of the bearish channel. It should be noted, however, that the situation can change if the upper boundary of the Cloud is breached and the price stabilizes above 1.0635. In such a scenario, further growth towards 1.0725 would be likely.

XAUUSD, “Gold vs US Dollar”

Gold is testing the lower boundary of the descending channel. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the Tenkan-Sen line of the indicator at 1905 is expected, followed by a decline to 1875. 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 1920, which will signal further growth to 1955.

BRENT

Brent has gained a foothold above the upper boundary of the descending channel. The instrument is going above the Ichimoku Cloud, which implies a bullish trend. A test of the Tenkan-Sen line at 92.35 is expected, followed by a rise to 95.75. An additional signal confirming the rise will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing below 90.85, which will indicate a further decline to 85.65.