Ichimoku Cloud Analysis 30.10.2020 (BTCUSD, USDCHF, BRENT)

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 13205.00; 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 13055.00 and then resume moving upwards to reach 14515.00. Another signal in favor of further uptrend will be a rebound from the downside border of a Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 12145.00. In this case, the pair may continue falling towards 11705.00. To confirm further growth, the asset must break the pattern’s upside border and fix above 13405.00.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading at 0.9141; 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 0.9125 and then resume moving upwards to reach 0.9215. 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 0.9075. In this case, the pair may continue falling towards 0.8995.

BRENT

Brent is trading at 37.56; 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 38.30 and then resume moving downwards to reach 34.85. 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 40.35. In this case, the pair may continue growing towards 41.55.

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.