Ichimoku Cloud Analysis 12.09.2023 (GBPUSD, BRENT, AUDUSD)
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is pushing off the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which indicates a downtrend. A test of the lower boundary of the Cloud at 1.2555 is expected, followed by a decline to 1.2325. An additional signal confirming the decline could be a rebound from the upper boundary of the descending channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.2625, which will signal a further price rise to 1.2715. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel of a beginning correction with the price securing below 1.2460.
BRENT
Brent is testing the upper boundary of the Triangle pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line is expected at 90.25, followed by a rise to 94.55. Growth can be additionally confirmed by a rebound from the lower boundary of the Triangle pattern. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing below 85.65, which will indicate a further decline to 80.05. Meanwhile, a price rise could be confirmed by a breakout of the upper border of the Triangle pattern, with the price securing above 92.05.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is correcting within a bearish channel. The instrument is going below the Ichimoku Cloud, which indicates a downtrend. A test of the upper boundary of the Cloud at 0.6435 is expected, followed by a price drop to 0.6305. An additional signal confirming the decrease could 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 0.6465, which will indicate further growth to 0.6555. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the ascending corrective channel with the price securing below 0.6370.
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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