Ichimoku Cloud Analysis 15.12.2020 (USDCHF, ETHUSD, CADJPY)

Article By RoboForex.com

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading at 0.8868; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.8895 and then resume moving downwards to reach 0.8735. 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 0.8995. In this case, the pair may continue growing towards 0.9085. To confirm further decline, the asset must break the downside border of the Triangle pattern and fix below 0.8825, thus indicating further decline to cover the distance equal to the pattern’s height.

ETHUSD, “Ethereum vs US Dollar”

ETHUSD is trading at 582.22; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 560.05 and then resume moving upwards to reach 655.05. Another signal in favor of further uptrend is 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 540.05. In this case, the pair may continue falling towards 505.05. To confirm further growth, the asset must break the resistance area and fix above 605.05, thus indicating the completion of an Inverted Head & Shoulders reversal pattern.

CADJPY, “Canadian Dollar vs Japanese Yen”

CADJPY is trading at 81.56; 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 81.05 and then resume moving upwards to reach 82.95. 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 80.35. In this case, the pair may continue falling towards 79.45.

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.