Ichimoku Cloud Analysis 12.11.2021 (GBPUSD, USDJPY, USDCAD)

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair is trading at 1.3367 under the Ichimoku Cloud, suggesting a downtrend. A test of the signal lines of the indicator at 1.3455 is expected, followed by falling to 1.3145. An additional signal confirming the decline might become a bounce off the upper border of the descending channel. The scenario can be canceled by a breakaway of the upper border of the Cloud and securing above 1.3635, which will mean further growth to 1.3725.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair is trading at 114.22 above the Ichimoku Cloud, suggesting an uptrend. A test of the upper border of the Cloud at 113.80 is expected, followed by growth to 115.50. An additional signal confirming the growth might become a bounce off the upper border of the descending channel. The scenario can be canceled by a breakaway of the lower border of the Cloud and securing under 113.05, which will mean further falling to 112.15. The growth can be confirmed by a breakaway of the resistance area and securing above 114.50: this level has been tested several times, yet buyers failed to break through it.

USDCAD, “US Dollar vs Canadian Dollar”

The currency pair is trading at 1.2583 above the Ichimoku Cloud, suggesting an uptrend. A test of the signal lines of the indicator at 1.2525 is expected, followed by growth to 1.2740. An additional signal confirming the growth might become a bounce off the upper border of the ascending channel. The scenario can be canceled by a breakaway of the lower border of the Cloud and securing under 1.2345, which will mean further falling to 1.2255.

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.