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Ichimoku Cloud Analysis 03.05.2021 (GBPUSD, USDJPY, AUDUSD)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3807; 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 1.3865 and then resume moving downwards to reach 1.3565. Another signal in favor of a further downtrend will be a rebound from the downside border of a Triangle pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.3965. In this case, the pair may continue growing towards 1.4055. To confirm further decline, the asset must break the rising channel’s downside border and fix below 1.3770.

GBPUSD
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 109.58; 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 109.15 and then resume moving upwards to reach 111.35. Another signal in favor of a 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 108.05. In this case, the pair may continue falling towards 107.10. To confirm further growth, the asset must break the descending channel’s upside border and fix above 110.30.

USDJPY
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 0.7709; 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 0.7745 and then resume moving downwards to reach 0.7535. Another signal in favor of a further downtrend will be a rebound from the downside of the Triangle pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.7805. In this case, the pair may continue growing towards 0.7905.

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


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