Ichimoku Cloud Analysis 26.05.2020 (USDCAD, GBPUSD, USDJPY)

May 26, 2020

Article By RoboForex.com

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3930; 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 1.3960 and then resume moving downwards to reach 1.3845. Another signal in 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 1.4010. In this case, the pair may continue growing towards 1.4095.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”


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GBPUSD is trading at 1.2234; 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 1.2210 and then resume moving upwards to reach 1.2315. 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 1.2165. In this case, the pair may continue falling towards 1.2075.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 107.82; 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 107.75 and then resume moving upwards to reach 108.25. Another signal is 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 107.50. In this case, the pair may continue falling towards 105.65.

USDJPY

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.