Ichimoku Cloud Analysis 23.12.2020 (BTCUSD, EURUSD, USDJPY)

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 23487.00; 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 22565.00 and then resume moving upwards to reach 25845.00. Another signal in favor of further uptrend will be a rebound from the downside border of a Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 20805.00. In this case, the pair may continue falling towards 19955.00. To confirm further growth, the asset must break the pattern’s upside border and fix above 24365.00.

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2188; 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 1.2155 and then resume moving upwards to reach 1.2345. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 1.2105. In this case, the pair may continue falling towards 1.2015. To confirm further growth, the asset must break the upside border of a Triangle pattern and fix above 1.2265.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 103.44; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 103.65 and then resume moving downwards to reach 102.45. 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 104.05. In this case, the pair may continue growing towards 104.95. To confirm further decline, the asset must break the downside border of a Triangle pattern and fix below 103.10.

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.