Ichimoku Cloud Analysis 13.07.2020 (GBPUSD, XAGUSD, USDJPY)
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.2661; 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 1.2410 and then resume moving upwards to reach 1.2755. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2565. In this case, the pair may continue falling towards 1.2485.
XAGUSD, “Silver vs US Dollar”
XAGUSD is trading at 19.00; 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 18.70 and then resume moving upwards to reach 19.50. Another signal in favor of further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 18.55. In this case, the pair may continue falling towards 18.05.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 106.90; 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 107.05 and then resume moving downwards to reach 106.35. Another signal is favor of 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 107.25. In this case, the pair may continue growing towards 108.05.
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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