Ichimoku Cloud Analysis 17.08.2020 (EURUSD, AUDUSD, LTCUSD)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1864; 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 1.1825 and then resume moving upwards to reach 1.1935. Another signal in favor of further uptrend will be a rebound from the support level. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 1.1765. In this case, the pair may continue falling towards 1.1675.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7180; 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 0.7170 and then resume moving upwards to reach 0.7250. Another signal in favor of further uptrend will be a rebound from the “neckline”. Of a Head & Shoulders reversal pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.7130. In this case, the pair may continue falling towards 0.7045.

LTCUSD, “Litecoin vs US Dollar”

LTCUSD is trading at 60.99; 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 60.65 and then resume moving upwards to reach 71.55. 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 58.05. In this case, the pair may continue falling towards 56.05.

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.