Ichimoku Cloud Analysis 01.02.2021 (EURUSD, AUDUSD, ETHUSD)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2130; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2145 and then resume moving downwards to reach 1.1995. Another signal in favor of a further downtrend will be a rebound from the upside border of the Triangle pattern. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.2160. In this case, the pair may continue growing towards 1.2255. To confirm further decline, the asset must break the support area and fix below 1.2045.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7657; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7665 and then resume moving downwards to reach 0.7515. Another signal in favor of a 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 0.7760. In this case, the pair may continue growing towards 0.7845. To confirm further decline, the asset must break the descending channel’s downside border and fix below 0.7540.

ETHUSD, “Ethereum vs US Dollar”

ETHUSD is trading at 1326.70; 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 1290.00 and then resume moving upwards to reach 1570.00. Another signal in favor of a further uptrend is 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 1205.00. In this case, the pair may continue falling towards 1065.00. To confirm further growth, the asset must break the pattern’s upside border and fix above 1455.00.

Article By RoboForex.com

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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.