Ichimoku Cloud Analysis 09.02.2023 (GBPUSD, USDCAD, AUDUSD)

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.

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.

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.

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.