Ichimoku Cloud Analysis 04.12.2020 (EURUSD, USDCAD, ETHUSD)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

The currency pair is trading at 1.2150 above the Ichimoku Cloud, indicating an uptrend. A test of the upper border of the Cloud at 1.2035 is expected, followed by growth to 1.2215. An additional signal confirming the growth will be a bounce off the lower border of the ascending channel. The scenario might be canceled by a breakaway of the lower border of the Cloud and securing under 1.2105, which will entail further falling to 1.2010.

USDCAD, “US Dollar vs Canadian Dollar”

The currency pair is trading at 1.2854 under the Ichimoku Cloud, suggesting a downtrend. A test of the signal lines of the indicator at 1.2880 is expected, followed by a decline to 1.2785. An additional signal confirming the decline will be a bounce off the upper border of the descending channel. The scenario might be canceled by a breakaway of the upper border of the Cloud and securing above 1.2915, which will entail further growth to 1.3010.

ETHUSD, “Ethereum vs US Dollar”

The cryptocurrency is trading at 605.07 above the Ichimoku Cloud, suggesting an uptrend. A test of the upper border of the Cloud at 604.55 is expected, followed by growth to 651.05. An additional signal confirming the growth will be a bounce off the lower border of the ascending channel. The scenario might be canceled by a breakaway of the lower border of the Cloud and securing under 585.00, which will entail further falling to 545.05. The growth might be confirned by a breakaway of the upper border of the Triangle and securing above 625.05.

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.