Ichimoku Cloud Analysis 17.02.2023 (AUDUSD, USDCAD, USDCHF)

By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is declining inside a bearish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line of the Cloud at 0.6920 is expected, followed by falling to 0.6695. 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 0.7015, which will mean further growth to 0.7105.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD has secured above 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 1.3445 is expected, followed by growth to 1.3635. 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 1.3325, which will mean further falling to 1.3235. The scenario can be confirmed by a breakaway of the upper border of the bullish channel and securing above 1.3555.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is getting ready for a breakaway of 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 0.9260 is expected, followed by growth to 0.9375. An additional signal confirming the decline will be a bounce off the lower border of the ascending channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 0.9145, which will mean further falling to 0.9055.

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.