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Ichimoku Cloud Analysis 08.07.2020 (GBPCHF, BTCUSD, USDZAR)

GBPCHF, “Great Britain Pound vs Swiss Franc”

GBPCHF is trading at 1.1831; 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 1.1790 and then resume moving upwards to reach 1.1995. Another signal in favor of further uptrend will be a rebound from the neckline of a Head & Shoulders reversal pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.1720. In this case, the pair may continue falling towards 1.1605.

Ichimoku Cloud Analysis 08.07.2020 GBPCHF
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 9265.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the support level at 9185.00 and then resume moving upwards to reach 9475.00. 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 9065.00. In this case, the pair may continue falling towards 8775.00.

Ichimoku Cloud Analysis 08.07.2020 BTCUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDZAR, “US Dollar vs South African Rand”

USDZAR is trading at 17.15; 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 17.16 and then resume moving downwards to reach 16.65. 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 17.25. In this case, the pair may continue growing towards 17.45.

Ichimoku Cloud Analysis 08.07.2020 USDZAR
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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