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Ichimoku Cloud Analysis 05.06.2020 (EURUSD, USDCAD, AUDUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1361; 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 1.1310 and then resume moving upwards to reach 1.1445. 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 1.1185. In this case, the pair may continue falling towards 1.1105.

Ichimoku Cloud Analysis 05.06.2020 EURUSD
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 trading at 1.3480; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.3495 and then resume moving downwards to reach 1.3225. Another signal in favor of 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 1.3585. In this case, the pair may continue growing towards 1.3945. To confirm further decline, the asset must break the downside border of the Triangle pattern and fix below 1.3465.

Ichimoku Cloud Analysis 05.06.2020 USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6991; 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 0.6905 and then resume moving upwards to reach 0.7105. 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 0.6830. In this case, the pair may continue falling towards 0.6735.

Ichimoku Cloud Analysis 05.06.2020 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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