Ichimoku Cloud Analysis 10.11.2020 (GBPJPY, BRENT, XAUUSD)

Article By RoboForex.com

GBPJPY, “Great Britain Pound vs Japanese Yen”

GBPJPY is trading at 138.41; 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 137.45 and then resume moving upwards to reach 139.85. 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 136.45. In this case, the pair may continue falling towards 135.75.

BRENT

Brent is trading at 42.05; 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 40.70 and then resume moving upwards to reach 45.85. 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 39.65. In this case, the pair may continue falling towards 37.35.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1884.00; 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 1895.00 and then resume moving downwards to reach 1815.00. 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 1920.00. In this case, the pair may continue growing towards 1955.00.

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.