Ichimoku Cloud Analysis 20.05.2022 (EURUSD, USDCAD, GBPUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is no longer moving within the bearish channel. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.0515 and then resume moving upwards to reach 1.0750. Another signal in favour of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.0380. In this case, the pair may continue falling towards 1.0295.



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 rebounding from Tenkan-Sen. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test rebounding from Kijun-Sen at 1.2875 and then resume moving downwards to reach 1.2525. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.2955. In this case, the pair may continue growing towards 1.3045.

USDCAD

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

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is testing the resistance level. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2375 and then resume moving upwards to reach 1.2775 Another signal in favour of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2175. In this case, the pair may continue falling towards 1.2085.

GBPUSD

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

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Source: RoboForex


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