Ichimoku Cloud Analysis 20.07.2021 (GBPUSD, AUDUSD, EURUSD)
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.3656; 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 1.3710 and then resume moving downwards to reach 1.3450. Another signal in favor 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 1.3905. In this case, the pair may continue growing towards 1.4005. To confirm further decline, the asset must break the bearish channel’s downside border and fix below 1.3565.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7317; 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 0.7335 and then resume moving downwards to reach 0.7205. Another signal in favor of a further downtrend will be a rebound from the descending channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.7515. In this case, the pair may continue growing towards 0.7605.
EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1782; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.1810 and then resume moving downwards to reach 1.1675. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.1855. In this case, the pair may continue growing towards 1.1965. To confirm further decline, the asset must break the support level and fix below 1.1765 – as we can see, after three tests of this area, bears still failed to break it.
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.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.