Ichimoku Cloud Analysis 09.02.2023 (GBPUSD, USDCAD, AUDUSD)

February 9, 2023

By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is correcting in a Wedge reversal pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.2120 is expected, followed by falling to 1.1845. An additional signal confirming the decline 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 1.2250, which will mean further growth to 1.2345. The scenario can be confirmed by a breakaway of the lower border of the Wedge and securing under 1.2035.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is pushing off the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line of the Cloud at 1.3405 is expected, followed by growth to 1.3565. An additional signal confirming the decline 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 1.3310, which will mean further falling to 1.3205. The scenario can be confirmed by a breakaway of the upper border of the descending channel and securing above 1.3495.


Free Reports:

Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter





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.





USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is growing before falling. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 0.6980 is expected, followed by falling to 0.6775. An additional signal confirming the decline 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 0.7055, which will mean further growth to 0.7145. The decline can be confirmed by a breakaway of the lower border of the bullish channel and securing under 0.6895.

AUDUSD

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.