Ichimoku Cloud Analysis 12.08.2022 (GBPUSD, AUDUSD, USDCAD)

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is testing 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 1.2130 and then resume moving upwards to reach 1.2415. 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 1.2040. In this case, the pair may continue falling towards 1.1950.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is growing 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 Kijun-Sen at 0.7040 and then resume moving upwards to reach 0.7275. 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 0.6905. In this case, the pair may continue falling towards 0.6805. To confirm a further uptrend, the price must break the bearish channel’s upside border and fix above 0.7205.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is rebounding from Tenkan-Sen and Kijun-Sen. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test resistance area at 1.2790 and then resume moving downwards to reach 1.2535. 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 1.2940. In this case, the pair may continue growing towards 1.3035.

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.