Ichimoku Cloud Analysis 13.10.2020 (GBPUSD, USDZAR, EURUSD)

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3050; 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 1.3005 and then resume moving upwards to reach 1.3140. 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 1.2965. In this case, the pair may continue falling towards 1.2675.

USDZAR, “US Dollar vs South African Rand”

USDZAR is trading at 16.51; 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 16.55 and then resume moving downwards to reach 15.95. 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 16.95. In this case, the pair may continue growing towards 17.75. To confirm further decline, the asset must break the pattern’s downside border and fix below 16.30.

EURUSD, “Euro vs US Dollar”

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.