Ichimoku Cloud Analysis 06.08.2020 (BRENT, BTCUSD, NZDUSD)

Article By RoboForex.com

BRENT

Brent is trading at 45.64; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 43.65 and then resume moving upwards to reach 47.35. 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 44.45. In this case, the pair may continue falling towards 43.35.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 11643.00; 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 11525.00 and then resume moving upwards to reach 12190.00. 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 11015.00. In this case, the pair may continue falling towards 10255.00.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6649; 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 0.6645 and then resume moving upwards to reach 0.6720. Another signal in favor of further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 0.6595. In this case, the pair may continue falling towards 0.6505.

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.