Ichimoku Cloud Analysis 11.06.2021 (AUDUSD, USDJPY, AUDCAD)

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7760; 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 0.7725 and then resume moving upwards to reach 0.7845. Another signal in favor of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.7690. In this case, the pair may continue falling towards 0.7595. To confirm further growth, the asset must break the descending channel’s upside border and fix above 0.7785.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 109.37; 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 109.55 and then resume moving downwards to reach 108.40. Another signal in favor of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 110.95. In this case, the pair may continue growing towards 110.80.

AUDCAD, “Australian Dollar vs Canadian Dollar”

AUDCAD is trading at 0.9377; 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 0.9345 and then resume moving upwards to reach 0.9490. Another signal in favor of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.9280. In this case, the pair may continue falling towards 0.9195.

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.