Ichimoku Cloud Analysis 14.08.2023 (EURUSD, GBPUSD, USDCAD)
EURUSD, “Euro vs US Dollar”
EURUSD has secured under the lower boundary of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the Tenkan-Sen line at 1.0945 is expected, followed by a decline to 1.0805. 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 above 1.1045, which will mean further growth to 1.1135.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is pushing off the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.2720 is expected, followed by a decline to 1.2485. 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 1.2865, which will mean further growth to 1.2955. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the ascending channel with the price securing below 1.2645.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is growing within a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.3415 is expected, followed by a rise to 1.3635. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 1.3305, which will mean a further decline to 1.3210.
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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