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Ichimoku Cloud Analysis 24.05.2021 (GBPUSD, BRENT, NZDUSD)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.4152; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.4180 and then resume moving downwards to reach 1.3905. Another signal in favor of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.4205. In this case, the pair may continue growing towards 1.4300. To confirm further decline, the asset must break the support level and fix below 1.4105m thus breaking the downside border of the Wedge reversal pattern.

Ichimoku Cloud Analysis 24.05.2021 GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is trading at 66.75; 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 66.95 and then resume moving downwards to reach 60.95. Another signal in favor of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 68.05. In this case, the pair may continue growing towards 69.25.

Ichimoku Cloud Analysis 24.05.2021 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7169; 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 0.7205 and then resume moving downwards to reach 0.6975. Another signal in favor of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.7250. In this case, the pair may continue growing towards 0.7345. To confirm further decline, the asset must break the support level and fix below 0.7115 to complete a Head & Shoulders reversal pattern.

Ichimoku Cloud Analysis 24.05.2021  NZDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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