Ichimoku Cloud Analysis 02.03.2022 (EURJPY, XAGUSD, AUDUSD)

Article By RoboForex.com

EURJPY, “Euro vs Japanese Yen”

EURJPY is trading at 127.79; 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 128.75 and then resume moving downwards to reach 125.25. 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 130.45. In this case, the pair may continue growing towards 131.35.

XAGUSD, “Silver vs US Dollar”

XAGUSD is trading at 25.07; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 24.25 and then resume moving upwards to reach 26.85. 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 23.65. In this case, the pair may continue falling towards 22.75. To confirm further growth, the asset must break the upside border of the Triangle pattern and fix above 25.85.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7256; 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 0.7185 and then resume moving upwards to reach 0.7395. 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 0.7135. In this case, the pair may continue falling towards 0.7045.

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.