Ichimoku Cloud Analysis 07.05.2021 (EURGBP, USDRUB, EURJPY)

Article By RoboForex.com

EURGBP, “Euro vs Great Britain Pound”

EURGBP is trading at 0.8673; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 0.8665 and then resume moving upwards to reach 0.8805. Another signal in favor of a further uptrend will be 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 0.8605. In this case, the pair may continue falling towards 0.8525. To confirm further growth, the asset must break the pattern’s upside border and fix above 0.8725.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is trading at 74.27; 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 75.05 and then resume moving downwards to reach 72.15. Another signal in favor of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 76.25. In this case, the pair may continue growing towards 77.35. To confirm further decline, the asset must break the rising channel’s downside border and fix below 73.25.

EURJPY, “Euro vs Japanese Yen”

EURJPY is trading at 131.60; 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 130.95 and then resume moving upwards to reach 133.15. 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 130.75. In this case, the pair may continue falling towards 129.95. To confirm further growth, the asset must break the descending channel’s upside border and fix above 131.95.

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.