Ichimoku Cloud Analysis 07.12.2020 (BTCUSD, BRENT, USDJPY)

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

Cloud near 18,915 is expected, followed by growth to 20,715. An additional signal for growth might be a bounce off the lower border of the Triangle pattern. The growth might be canceled by a breakaway of the lower border of the Cloud and securing under 17,855, which will mean further falling to 17,055. The growth can be confirmed by a breakaway of the upper border of the Triangle and securing under 19,895.

BRENT

Oil is trading at 49.07 above the Ichimoku Cloud, indicating an uptrend. A test of the upper border of the Cloud near 48.75 is expected, followed by growth to 50.80. An additional signal for growth might be a bounce off the lower border of ascending channel. The growth might be canceled by a breakaway of the lower border of the Cloud and securing under 47.75, which will mean further falling to 44.75.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 104.08 under the Ichimoku Cloud, indicating a downtrend. A test of the upper border of the Cloud near 104.20 is expected, followed by falling to 103.15. An additional signal for the decline might be a bounce off the resistance level. The decline might be canceled by a breakaway of the upper border of the Cloud and securing above 104.55, which will mean further growth to 105.45. The decline can be confirmed by a breakaway of the lower border of the Triangle and securing above 103.55.

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.