Ichimoku Cloud Analysis 20.04.2023 (EURUSD, USDCAD, AUDUSD)

By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is pushing off the support level. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the lower border of the Cloud at 1.0945 is expected, followed by growth to 1.1165. A signal confirming the growth will be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a breakout of the lower border of the Cloud and securing under 1.0880, which will mean further falling to 1.0785.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD has secured above the upper border of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.3410 is expected, followed by growth to 1.3655. An additional signal confirming the growth will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the lower border of the Cloud and securing under 1.3345, which will mean further falling to 1.3255.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is correcting in a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower border of the Cloud at 0.6705 is expected, followed by growth to 0.6835. An additional signal confirming the growth will be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a breakout of the lower border of the Cloud and securing under 0.6670, which will mean further falling to 0.6575.

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.