Ichimoku Cloud Analysis 08.12.2022 (GBPUSD, USDJPY, NZDUSD)

By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair is correcting by a Wedge reversal pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.2155 is expected, followed by growth to 1.2545. An additional signal confirming the growth will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 1.9175, which will mean further falling to 1.1875. The growth will be confirmed by a breakaway of the upper border of the Wedge and securing above 1.2215.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair is pushing off the resistance level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the upper border of the Cloud at 137.55 is expected, followed by falling to 131.25. An additional signal confirming the growth will be a bounce off the upper border of the descending channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 139.35, which will mean further growth to 140.25. The falling will be confirmed by a breakaway of the lower border of the bullish channel and securing under 135.85.

NZDUSD, “New Zealand Dollar vs US Dollar”

The currency pair is testing the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 0.6325 is expected, followed by growth to 0.6625. An additional signal confirming the growth will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 0.6205, which will mean further falling to 0.6110.

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.