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Ichimoku Cloud Analysis 02.07.2020 (GBPUSD, LTCUSD, USDCAD)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.2488; 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 1.2455 and then resume moving upwards to reach 1.2575. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2305. In this case, the pair may continue falling towards 1.2215.

Ichimoku Cloud Analysis 02.07.2020  GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

LTCUSD, “Litecoin vs US Dollar”

LTCUSD is trading at 41.29; 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 41.55 and then resume moving downwards to reach 38.65. 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 42.45. In this case, the pair may continue growing towards 44.05. To confirm further decline, the asset must break the neckline of a Head & Shoulders reversal pattern and fix below 40.35.

Ichimoku Cloud Analysis 02.07.2020  LTCUSD
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 1.3608; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3625 and then resume moving downwards to reach 1.3510. 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 1.3645. In this case, the pair may continue growing towards 1.3735. To confirm further decline, the asset must break the downside border of a Wedge pattern and fix below 1.3575.

Ichimoku Cloud Analysis 02.07.2020  USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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