Ichimoku Cloud Analysis 21.04.2022 (EURUSD, BRENT, GBPUSD)

April 21, 2022

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is rebounding from the cloud’s upside border at 1.0897; bears have failed to fix the price below the support area at 1.0805. The instrument is currently moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 1.0855 and then resume moving upwards to reach 1.1095. 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 1.0780. In this case, the pair may continue falling towards 1.0690. Also, there is a potential for the formation of an upside-down Head & Shoulders reversal pattern with the target at 1.1065. While forming the pattern, the asset may fall to test 1.0820 and complete the pattern’s right “shoulder” there.


BRENT

Brent is still testing Tenkan-Sen and Kijun-Sen at 108.10. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 105.45 and then resume moving upwards to reach 120.65. 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 100.00. In this case, the pair may continue falling towards 90.00. To confirm a further uptrend, the price must break the descending channel’s upside border and fix above 109.55.


Free Reports:

Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.





Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter






GBPUSD, “Great Britain Pound vs US Dollar”

Having rebounded from the support level, GBPUSD is growing at 1.3079; the daily chart has the potential for the completion of a Double Bottom reversal pattern. To complete the pattern, the price must break 1.3155, and the pattern materialisation target will be at 1.3300. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.3050 and then resume moving upwards to reach 1.3270. 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 1.3005. In this case, the pair may continue falling towards 1.2910. To confirm a further uptrend, the price must break the descending trendline and fix above 1.3115.

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.

InvestMacro

Share
Published by
InvestMacro

Recent Posts

Canadian dollar declines after weak GDP data. Qatar threatens EU to halt natural gas exports

By JustMarkets At Monday’s close, the Dow Jones Index (US30) was up 0.16%. The S&P…

1 day ago

US Dollar Index Speculator bets rise for 1st time in 7 weeks, AUD bets plunge

By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…

3 days ago

Speculator Extremes: New Zealand Dollar, Euro & CAD lead Bearish Positions

By InvestMacro  The latest update for the weekly Commitment of Traders (COT) report was released…

4 days ago

COT Bonds Charts: Speculator Bets led by SOFR 3-Months & 10-Year Bonds

By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…

4 days ago

COT Metals Charts: Speculator Bets led lower by Gold, Copper & Palladium

By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…

4 days ago

This website uses cookies.