Ichimoku Cloud Analysis 22.02.2021 (EURUSD, BTCUSD, USDCNH)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2119 above the Ichimoku Cloud, suggesting an uptrend. A test of the lower border of the Cloud at 1.2070 is expected, followed by growth to 1.2230. An additional signal confirming the growth will be a bounce off the lower border of the ascending channel. The growth will be canceled in the case of a breakaway of the lower border of the Cloud and securing under 1.2030, which will mean further decline to 1.1955. The growth will be confirmed by a breakaway of the resistance area and securing above 1.2150, which will mean an inverted Head and Shoulders pattern is complete.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is correcting after a bounce off another all-time high and trading at 55,782 above the Ichimoku Cloud, suggesting an uptrend. A test of the signal lines of the indicator at 54,055 is expected, followed by growth to 63,540. An additional signal confirming the growth will be a bounce off the lower border of the ascending channel. The growth will be canceled in the case of a breakaway of the lower border of the Cloud and securing under 45,705, which will mean further decline to 40,505.

USDCNH, “US Dollar vs Chinese Yuan”

USDCNH is trading at 6.4642 above the Ichimoku Cloud, suggesting an uptrend. A test of the signal lines of the indicator at 6.4585 is expected, followed by growth to 6.5070. An additional signal confirming the growth will be a bounce off the lower border of the ascending channel. The growth will be canceled in the case of a breakaway of the lower border of the Cloud and securing under 6.4065, which will mean further decline to 6.3940.

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.