Ichimoku Cloud Analysis 25.11.2020 (BTCUSD, EURJPY, BRENT)

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 18874.00; 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 18675.00 and then resume moving upwards to reach 19945.00. 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 17905.00. In this case, the pair may continue falling towards 17025.00.

EURJPY, “Euro vs Japanese Yen”

EURJPY is trading at 124.31; 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 124.05 and then resume moving upwards to reach 126.25. Another signal in favor of further uptrend is the formation 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 122.95. In this case, the pair may continue falling towards 122.05. To confirm further growth, the asset must break the resistance area and fix above 124.95, thus indicating a breakout the pattern’s “neckline”.

BRENT

Brent is trading at 48.07; 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 47.45 and then resume moving upwards to reach 50.25. 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 46.15. In this case, the pair may continue falling towards 44.65.

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.