Ichimoku Cloud Analysis 12.02.2021 (LTCUSD, BRENT, USDRUB)

Article By RoboForex.com

LTCUSD, “Litecoin vs US Dollar”

LTCUSD is trading at 180.68; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 176.75 and then resume moving upwards to reach 214.50. Another signal in favor of a further uptrend is a rebound from the downside border of the Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 135.55. In this case, the pair may continue falling towards 125.05. To confirm further growth, the asset must break the pattern’s upside border and fix above 195.05.

BRENT

Brent is trading at 60.39; 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 58.05 and then resume moving upwards to reach 63.15. Another signal in favor of a 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 57.05. In this case, the pair may continue falling towards 56.35.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is trading at 73.55; 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 74.05 and then resume moving downwards to reach 71.95. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 75.75. In this case, the pair may continue growing towards 76.65. To confirm further decline, the asset must break the support area and fix below 72.75. As one can see, the price has already rebounded from this level three times.

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.