Ichimoku Cloud Analysis 07.11.2022 (GBPUSD, USDJPY, USDCAD)
GBPUSD, “Great Britain Pound vs US Dollar”
The pair is pushing off the lower border of the ascending channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 1.1345 is expected, followed by falling to 1.0815. 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 1.1565, which will mean further growth to 1.1655.
USDJPY, “US Dollar vs Japanese Yen”
The pair is correcting inside a Triangle. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 147.55 is expected, followed by falling to 142.75. 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 148.85, which will mean further growth to 149.80. The decline will be confirmed by a breakaway of the lower border of the Triangle and securing under 145.85.
USDCAD, “US Dollar vs Canadian Dollar”
The pair is testing the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 1.3595 is expected, followed by falling to 1.3205. 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 1.3745, which will mean further growth to 1.3835.
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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