Ichimoku Cloud Analysis 14.12.2020 (BTCUSD, BRENT, XAUUSD)

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 19095.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 18705.00 and then resume moving upwards to reach 20865.00. Another signal in favor of further uptrend will be a rebound from the descending channel’s upside border, which was earlier broken by bulls. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 17895.00. In this case, the pair may continue falling towards 17205.00. To confirm further growth, the asset must break the resistance area and fix above 19900.00: as one can see, there have been several tests of this level but no breakouts so far.

BRENT

Brent is trading at 50.24; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 49.10 and then resume moving upwards to reach 53.35. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border; the asset has been moving within this channel since late November. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 47.75. In this case, the pair may continue falling towards 44.75.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1833.00; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1840.00 and then resume moving downwards to reach 1770.00. Another signal in favor of further downtrend will be a rebound from the resistance level. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1860.00. In this case, the pair may continue growing towards 1895.00. To confirm further decline, the asset must break the support area and fix below 1815.00, thus indicating the completion of the Head & Shoulders reversal pattern.