Ichimoku Cloud Analysis 18.10.2021 (EURUSD, BRENT, USDJPY)

October 18, 2021

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1571; 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 1.1555 and then resume moving upwards to reach 1.1675. Another signal in favour 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 1.1520. In this case, the pair may continue falling towards 1.1430. To confirm further growth, the asset must break the cloud’s upside border and fix above 1.1625.

BRENT

Brent is trading at 85.48; 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 84.05 and then resume moving upwards to reach 91.55. Another signal in favour 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 79.45. In this case, the pair may continue falling towards 76.55.

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USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 114.30; 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 113.95 and then resume moving upwards to reach 115.35. Another signal in favour 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 113.35. In this case, the pair may continue falling towards 111.65.

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 18.10.2021 (EURUSD, BRENT, USDJPY)