Ichimoku Cloud Analysis 19.03.2021 (USDRUB, EURJPY, BRENT)

Article By RoboForex.com

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is trading at 74.22; 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 73.95 and then resume moving upwards to reach 76.25. Another signal in favor of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 73.55. In this case, the pair may continue falling towards 72.35. To confirm further growth, the asset must break the descending channel’s upside border and fix above 74.75.

EURJPY, “Euro vs Japanese Yen”

EURJPY is trading at 129.76; 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 129.55 and then resume moving upwards to reach 131.15. Another signal in favor of a further uptrend will be a rebound from the ascending trendline. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 129.25. In this case, the pair may continue falling towards 128.35.

BRENT

Brent is trading at 63.04; 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 64.75 and then resume moving downwards to reach 54.25. 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 69.75. In this case, the pair may continue growing towards 74.05.

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.