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Ichimoku Cloud Analysis 02.06.2020 (EURUSD, BTCUSD, USDJPY)

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1131; 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 1.1125 and then resume moving upwards to reach 1.1255. 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 1.1055. In this case, the pair may continue falling towards 1.0965. To confirm further growth, the asset must break the upside border of the Triangle pattern and fix above 1.1165.

Ichimoku Cloud Analysis 02.06.2020 EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 10062.00; 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 9675.00 and then resume moving upwards to reach 11065.00. 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 9055.00. In this case, the pair may continue falling towards 8265.00.

Ichimoku Cloud Analysis 02.06.2020 BTCUSD
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 107.71; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 107.40 and then resume moving upwards to reach 108.65. Another signal is 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 02.06.2020 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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