Ichimoku Cloud Analysis 09.03.2020 (GBPUSD, EURUSD, USDCAD)
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.3050; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.2990 and then resume moving upwards to reach 1.3215. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.2775. In this case, the pair may continue falling towards 1.2655.
EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1393; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.1290 and then resume moving upwards to reach 1.1650. Another signal to confirm further ascending movement is the price’s rebounding from the descending channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.1110. In this case, the pair may continue falling towards 1.0975.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.3644; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3575 and then resume moving upwards to reach 1.3845. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.3355. In this case, the pair may continue falling towards 1.3205.
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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