Ichimoku Cloud Analysis 13.03.2023 (EURUSD, USDCAD, GBPUSD)

By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has consolidated above the upper boundary of the descending channel. The pair is moving above the Ichimoku Cloud, suggesting an uptrend. A test of the Tenkan-Sen line at 1.0685 is expected, followed by a rise to 1.0855. The rebound from the upper boundary of the descending channel will be an additional trigger for the upside. A breakdown of the bottom line of the indicator Cloud and its fixation under 1.0525 will become a cancellation of the upside option, which will indicate the continuation of downside movement to 1.0435.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is correcting within a bullish channel. The pair is moving above the Ichimoku Cloud, which suggests an uptrend. Another test of the Kijun-Sen line at 1.3695 is expected, followed by the rise to 1.3925. The rebound from the bottom boundary of the bullish channel will be an additional trigger for the upside. A breakdown of the bottom line of the indicator Cloud with its fixation under 1.3575 will become a cancellation of the upside option, which will indicate the continuation of the fall towards 1.3485. The upside for the quotes will be confirmed by the breakdown of the area of the upper boundary of the descending channel and its fixation above the level of 1.3775.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has pushed away from the upper boundary of the descending channel. The pair is moving above the Ichimoku Cloud, suggesting an uptrend. A test of the Tenkan-Sen line at 1.2060 is expected, followed by a rise to 1.2375. The rebound from the upper boundary of the descending channel will be another signal for the upside. A breakdown of the bottom line of the indicator Cloud and its fixation under 1.1845 will become a cancellation of the upside option, which will indicate the continuation of the growth towards 1.1755.

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.