Ichimoku Cloud Analysis 11.05.2021 (EURGBP, USDRUB, NZDCAD)

EURGBP, “Euro vs Great Britain Pound”

EURGBP is trading at 0.8597; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.8630 and then resume moving downwards to reach 0.8455. 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 0.8695. In this case, the pair may continue growing towards 0.8785. To confirm further decline, the asset must break the rising channel’s downside border and fix below 0.8555.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is trading at 73.60; 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 74.65 and then resume moving downwards to reach 70.95. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 76.05. In this case, the pair may continue growing towards 77.05.

NZDCAD, “New Zealand Dollar vs Canadian Dollar”

NZDCAD is trading at 0.8793; 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 0.8815 and then resume moving downwards to reach 0.8620. Another signal in favor of a further downtrend will be a rebound from the upside border 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 0.8910. In this case, the pair may continue growing towards 0.9005. To confirm further decline, the asset must break the pattern’s downside border and fix below 0.8760.