Ichimoku Cloud Analysis 04.08.2022 (GBPUSD, USDCHF, USDJPY)

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is correcting inside the bullish channel. 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 1.2130 and then resume moving upwards to reach 1.2435. 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 1.2020. In this case, the pair may continue falling towards 1.1925.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is no longer moving within the bullish channel. 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 0.9585 and then resume moving upwards to reach 0.9795. 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 0.9485. In this case, the pair may continue falling towards 0.9390. To confirm a further uptrend, the price must break the cloud’s upside and fix above 0.9657.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is rebounding from Tenkan-Sen and Kijun-Sen. 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 133.10 and then resume moving upwards to reach 137.60. 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 131.95. In this case, the pair may continue falling towards 130.90.

Article By RoboForex.com

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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.