Ichimoku cloud analysis: Brent, CAD/JPY, GBP/USD

RoboForex Team RoboForex

BRENT

Brent is trading at 43.97; 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 42.95 and then resume moving upwards to reach 46.80. Another signal in favor of further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 39.90. In this case, the pair may continue falling towards 38.05.

CAD/PY, “Canadian Dollar vs Japanese Yen”

CADJPY is trading at 79.61; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 80.05 and then resume moving downwards to reach 78.25. Another signal in favor of 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 80.85. In this case, the pair may continue growing towards 81.95.

GBP/USD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.2963; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3055 and then resume moving downwards to reach 1.2715. 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 1.3125. In this case, the pair may continue growing towards 1.3205. To confirm further decline, the asset must break the rising channel’s downside border and fix below 1.2845.

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RoboForex Team

RoboForex

RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.

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