Ichimoku Cloud Analysis 12.07.2021 (EURUSD, AUDNZD, GBPUSD)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1866; 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 1.1860 and then resume moving upwards to reach 1.2005. Another signal in favor of a further uptrend will be a rebound from the upside border of the Wedge pattern. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 1.1785. In this case, the pair may continue falling towards 1.1705. To confirm further growth, the asset must break the cloud’s upside border and fix above 1.1915.

AUDNZD, “Australian Dollar vs New Zealand Dollar”

AUDNZD is trading at 1.0701; 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 1.0705 and then resume moving downwards to reach 1.0615. 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 1.0730. In this case, the pair may continue growing towards 1.0825.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3887; 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 1.3845 and then resume moving upwards to reach 1.4055. Another signal in favor of a further uptrend will be a rebound from the upside border of a Wedge pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.3770. In this case, the pair may continue falling towards 1.3675.

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.