Ichimoku Cloud Analysis 13.08.2020 (BRENT, AUDUSD, XAGUSD)

Article By RoboForex.com

BRENT

Brent is trading at 45.51; 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 44.95 and then resume moving upwards to reach 47.45. Another signal in favor of further uptrend will be a rebound from the downside border of the Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 43.55. In this case, the pair may continue falling towards 41.65. To confirm further growth, the asset must break the pattern’s upside border and fix above 46.35.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7163; 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 0.7135 and then resume moving upwards to reach 0.7245. Another signal in favor of further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.7105. In this case, the pair may continue falling towards 0.7005. To confirm further growth, the asset must break the resistance area and fix above 0.7205, thus completing a Head & Shoulders reversal pattern.

XAGUSD, “Silver vs US Dollar”

XAGUSD is trading at 25.84; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 26.05 and then resume moving downwards to reach 22.45. 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 27.05. In this case, the pair may continue growing towards 28.55.

Article By RoboForex.com

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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.