Ichimoku Cloud Analysis 20.08.2021 (EURJPY, GBPUSD, EURGBP)

August 20, 2021

EURJPY, “Euro vs Japanese Yen”

EURJPY is trading at 128.11; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the resistance level at 128.35 and then resume moving downwards to reach 126.95. Another signal in favor of a further downtrend will be a rebound from the descending 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 129.45. In this case, the pair may continue growing towards 130.35.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3617; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3655 and then resume moving downwards to reach 1.3485. 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 1.3845. In this case, the pair may continue growing towards 1.3935.

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EURGBP, “Euro vs Great Britain Pound”

EURGBP is trading at 0.8576; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.8535 and then resume moving upwards to reach 0.8635. 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 0.8475. In this case, the pair may continue falling towards 0.8385.

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.

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Ichimoku Cloud Analysis 20.08.2021 (EURJPY, GBPUSD, EURGBP)