Ichimoku cloud analysis: EUR/USD, XAG/USD, GBP/USD
EUR/USD, “Euro vs US Dollar”
EURUSD is trading at 1.1001; 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 1.1045 and then resume moving downwards to reach 1.0725. 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 1.1155. In this case, the pair may continue growing towards 1.1215.
XAG/USD, “Silver vs US Dollar”
XAGUSD is trading at 25.70; 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 25.45 and then resume moving upwards to reach 27.70. Another signal in favour 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 24.40. In this case, the pair may continue falling towards 23.45.
GBP/USD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.3092; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3160 and then resume moving downwards to reach 1.2820. 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 1.3335. In this case, the pair may continue growing towards 1.3425.
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.
