Ichimoku Cloud Analysis 16.07.2021 (EURUSD, GBPJPY, AUDUSD)

July 16, 2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1804; 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 1.1840 and then resume moving downwards to reach 1.1695. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.1875. In this case, the pair may continue growing towards 1.1965. To confirm further decline, the asset must break the support level and fix below 1.1765 – as we can see, after a couple of tests of this area, bears still failed to break it.

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

GBPJPY, “Great Britain Pound vs Japanese Yen”

GBPJPY is trading at 152.00; 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 152.25 and then resume moving downwards to reach 150.75. Another signal in favor of a 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 153.05. In this case, the pair may continue growing towards 154.05. To confirm further decline, the asset must break the support level and fix below 151.45, thus completing a Head & Shoulders pattern.


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

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7430; 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 0.7455 and then resume moving downwards to reach 0.7275. Another signal in favor of a 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 0.7525. In this case, the pair may continue growing towards 0.7605.

AUDUSD

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.