Ichimoku Cloud Analysis 17.02.2022 (EURUSD, USDJPY, EURGBP)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1355; 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 1.1375 and then resume moving downwards to reach 1.1185. 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 1.1445. In this case, the pair may continue growing towards 1.1535. To confirm further decline, the asset must break the rising channel’s downside border and fix below 1.1245.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 115.30; 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 115.20 and then resume moving upwards to reach 117.05. 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 114.45. In this case, the pair may continue falling towards 113.65. To confirm further growth, the asset must break the descending channel’s upside border and fix above 115.95.

EURGBP, “Euro vs Great Britain Pound”

EURGBP is trading at 0.8362; 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 0.8375 and then resume moving downwards to reach 0.8270. 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 0.8425. In this case, the pair may continue growing towards 0.8515. To confirm further decline, the asset must break the rising channel’s downside border and fix below 0.8330.

Article By RoboForex.com

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