Ichimoku Cloud Analysis 14.09.2020 (BRENT, GBPUSD, NZDUSD)

Article By RoboForex.com

BRENT

Brent is trading at 40.18; 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 40.90 and then resume moving downwards to reach 37.05. Another signal in favor of further downtrend will be a rebound from the upside border of the Triangle pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 43.65. In this case, the pair may continue growing towards 44.55. To confirm further decline, the asset must break the pattern’s downside border and fix below 39.45.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.2817; 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 1.2845 and then resume moving downwards to reach 1.2565. 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 1.2935. In this case, the pair may continue growing towards 1.3025.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6694; 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 0.6675 and then resume moving upwards to reach 0.6755. Another signal in favor of further uptrend will be a rebound from the upside border of a Triangle pattern. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 0.6635. In this case, the pair may continue falling towards 0.6555.

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.