Ichimoku Cloud Analysis 07.02.2023 (EURUSD, GBPUSD, AUDUSD)
EURUSD, “Euro vs US Dollar”
EURUSD is descending by a bearish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.0780 is expected, followed by falling to 1.0530. An additional signal confirming the decline will be a bounce off the upper border of the descending channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 1.0975, which will mean further growth to 1.1065.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is testing the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.2125 is expected, followed by falling to 1.1815. An additional signal confirming the decline will be a bounce off the upper border of the descending channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 1.2265, which will mean further growth to 1.2355.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is pushing off the signal lines of the Cloud. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 0.7005 is expected, followed by falling to 0.6695. An additional signal confirming the decline will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 0.7115, which will mean further growth to 0.7205.
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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