Ichimoku cloud analysis: EUR/USD, BTC/USD, USD/CNH

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

EURUSD is trading at 1.2119 above the Ichimoku Cloud, suggesting an uptrend. A test of the lower border of the Cloud at 1.2070 is expected, followed by growth to 1.2230. An additional signal confirming the growth will be a bounce off the lower border of the ascending channel. The growth will be canceled in the case of a breakaway of the lower border of the Cloud and securing under 1.2030, which will mean further decline to 1.1955. The growth will be confirmed by a breakaway of the resistance area and securing above 1.2150, which will mean an inverted Head and Shoulders pattern is complete.

BTC/USD, “Bitcoin vs US Dollar”

BTCUSD is correcting after a bounce off another all-time high and trading at 55,782 above the Ichimoku Cloud, suggesting an uptrend. A test of the signal lines of the indicator at 54,055 is expected, followed by growth to 63,540. An additional signal confirming the growth will be a bounce off the lower border of the ascending channel. The growth will be canceled in the case of a breakaway of the lower border of the Cloud and securing under 45,705, which will mean further decline to 40,505.

USD/CNH, “US Dollar vs Chinese Yuan”

USDCNH is trading at 6.4642 above the Ichimoku Cloud, suggesting an uptrend. A test of the signal lines of the indicator at 6.4585 is expected, followed by growth to 6.5070. An additional signal confirming the growth will be a bounce off the lower border of the ascending channel. The growth will be canceled in the case of a breakaway of the lower border of the Cloud and securing under 6.4065, which will mean further decline to 6.3940.

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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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