Ichimoku Cloud Analysis 18.11.2021 (GBPUSD, BRENT, USDCHF)

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3485; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3495 and then resume moving downwards to reach 1.3285. Another signal in favour 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 1.3555. In this case, the pair may continue growing towards 1.3645. To confirm further decline, the asset must break the rising channel’s downside border and fix below 1.3405.

BRENT

Brent is trading at 80.01; 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 81.45 and then resume moving downwards to reach 76.95. Another signal in favour 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 83.95. In this case, the pair may continue growing towards 85.45. To confirm further decline, the asset must break the descending channel’s downside border and fix below 79.50.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading at 0.9284; 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 0.9235 and then resume moving upwards to reach 0.9375. 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 0.9145. In this case, the pair may continue falling towards 0.9055.

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.