Ichimoku Cloud Analysis 14.10.2020 (BTCUSD, USDJPY, USDCHF)

14.10.2020

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 11368.00; 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 11195.00 and then resume moving upwards to reach 12055.00. 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 10755.00. In this case, the pair may continue falling towards 9955.00.

BTCUSD
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 105.43; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 105.50 and then resume moving downwards to reach 105.05. 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 105.70. In this case, the pair may continue growing towards 106.65. To confirm further decline, the asset must break the downside border of the Triangle pattern and fix below 105.20.

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

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading at 0.9149; 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 0.9130 and then resume moving upwards to reach 0.9195. 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 0.9085. In this case, the pair may continue falling towards 0.9005. To confirm further growth, the asset must break the descending channel’s upside border and fix above 0.9165.

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

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.