Ichimoku Cloud Analysis 12.08.2020 (USDJPY, XAUUSD, USDRUB)

Article By RoboForex.com

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 106.74; 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 106.35 and then resume moving upwards to reach 107.35. 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 105.65. In this case, the pair may continue falling towards 104.75.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1896.00; 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 1915.00 and then resume moving downwards to reach 1785.00. 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 1985.00. In this case, the pair may continue growing towards 2075.00.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is trading at 72.95; 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 73.25 and then resume moving downwards to reach 70.80. Another signal in favor of further downtrend will be a rebound from the upside border of the Triangle pattern. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 74.05. In this case, the pair may continue growing towards 75.25. To confirm further decline, the asset must break the pattern’s downside border and fix below 72.35.

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.