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Ichimoku Cloud Analysis 01.06.2020 (EURUSD, USDJPY, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1137; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.1105 and then resume moving upwards to reach 1.1245. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 1.1015. In this case, the pair may continue falling towards 1.0925.

Ichimoku Cloud Analysis 01.06.2020 EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 107.54; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 107.45 and then resume moving upwards to reach 108.55. Another signal in favor of further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 107.05. In this case, the pair may continue falling towards 106.25. To confirm further growth, the asset must break the resistance and fix above 108.05, thus completing an Inverted Head & Shoulders pattern.

Ichimoku Cloud Analysis 01.06.2020 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is trading at 37.59; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 36.10 and then resume moving upwards to reach 42.05. Another signal in favor of further uptrend will be a rebound from the upside border of a Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 32.05. In this case, the pair may continue falling towards 31.10.

Ichimoku Cloud Analysis 01.06.2020 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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