Ichimoku cloud analysis: EUR/GBP, AUD/JPY, XRP/USD
EUR/GBP, “Euro vs Great Britain Pound”
EURGBP is trading at 0.8952; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 0.8940 and then resume moving upwards to reach 0.9095. Another signal in favor of further uptrend will be a rebound from the support level. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 0.8905. In this case, the pair may continue falling towards 0.8810. To confirm further growth, the asset must break the descending channel’s upside border and fix above 0.9005, thus indicating the completion of a Head & Shoulders reversal pattern.
AUD/JPY, “Australian Dollar vs Japanese Yen”
AUDJPY is trading at 75.82; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 75.55 and then resume moving upwards to reach 77.85. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 75.05. In this case, the pair may continue falling towards 74.10. To confirm further growth, the asset must break the descending channel’s upside border and fix above 76.55.
XRP/USD, “Ripple vs US Dollar”
After completing a significant correction, XRPUSD is trading at 0.2929 above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.2820 and then resume moving upwards to reach 0.3190. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.2740. In this case, the pair may continue falling towards 0.2605.
Author
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.
