Ichimoku Cloud Analysis 17.08.2023 (BRENT, AUDUSD, EURGBP)
BRENT
Crude oil price has left the boundaries of a bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 84.75 is expected, followed by a decline to 79.40. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 88.05, which will mean further growth to 92.05.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has secured under the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 0.6420 is expected, followed by a decline to 0.6240. An additional signal confirming the decline will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing 0.6555, which will mean further growth to 0.6645.
EURGBP, “Euro vs Great Britain Pound”
EURGBP is correcting after an aggressive decline. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the Tenkan-Sen line at 0.8555 is expected, followed by a decline to 0.8495. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 0.8605, which will mean further growth to 0.8705.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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