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

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

EURUSD is trading at 1.1551; 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 1.1570 and then resume moving downwards to reach 1.1395. Another signal in favor of a 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 1.1655. In this case, the pair may continue growing towards 1.1745.

Brent

Brent is trading at 84.23; 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 81.55 and then resume moving upwards to reach 91.35. Another signal in favor of a 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 79.15. In this case, the pair may continue falling towards 76.25.

CAD/JPY, “Canadian Dollar vs Japanese Yen”

CADJPY is trading at 90.78; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 89.65 and then resume moving upwards to reach 94.05. Another signal in favor of a further uptrend will be a breakout of 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 87.25. In this case, the pair may continue falling towards 86.35.

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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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