Ichimoku Cloud Analysis 07.06.2021 (GBPUSD, XAGUSD, USDCHF)

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.4117; 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 1.4155 and then resume moving downwards to reach 1.3995. Another signal in favor of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.4210. In this case, the pair may continue growing towards 1.4305.

XAGUSD, “Silver vs US Dollar”

XAGUSD is trading at 27.50; 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 27.75 and then resume moving downwards to reach 26.45. Another signal in favor of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 28.25. In this case, the pair may continue growing towards 29.35.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading at 0.8996; 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 0.8985 and then resume moving upwards to reach 0.9095. 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 0.8965. In this case, the pair may continue falling towards 0.8875. To confirm further growth, the asset must break the descending channel’s upside border and fix above 0.9010.

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.