Ichimoku cloud analysis: EUR/USD, USD/CAD, GBP/USD

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

EUR/USD is no longer moving within the bearish channel. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.0515 and then resume moving upwards to reach 1.0750. Another signal in favour of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.0380. In this case, the pair may continue falling towards 1.0295.

USD/CAD, “US Dollar vs Canadian Dollar”

USD/CAD is rebounding from Tenkan-Sen. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test rebounding from Kijun-Sen at 1.2875 and then resume moving downwards to reach 1.2525. Another signal in favour 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 1.2955. In this case, the pair may continue growing towards 1.3045.

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

GBP/USD is testing the resistance level. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2375 and then resume moving upwards to reach 1.2775 Another signal in favour of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2175. In this case, the pair may continue falling towards 1.2085.

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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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