Ichimoku Cloud Analysis 11.09.2020 (GBPUSD, AUDUSD, USDCAD)

GBPUSD, “Great Britain Pound vs US Dollar”

ВGBPUSD is trading at 1.2820 under the Ichimoku Cloud, suggesting a downtrend that remains very strong. A test of the lower border of the Cloud at 1.2895 is expected, followed by falling to 1.2545. An additional signal confirming the decline will be a bounce off the upper border of the descending channel. The falling will be canceled in the case of a breakaway of the upper border of the Cloud and securing above 1.3065, which will mean further growth to 1.3155.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7278 under the Ichimoku Cloud, suggesting a downtrend. A test of the upper border of the Cloud at 0.7305 is expected, followed by falling to 0.7125. An additional signal confirming the decline will be a bounce off the resistance level. The falling will be canceled in the case of a breakaway of the upper border of the Cloud and closing above 0.7335, which will mean further growth to 0.7425. The decline will be confirmed by a breakaway of the support area and securing under 0.7175, which will mean a breakaway of the Neck and the completion of the Head and Shoulders pattern.

USDCAD, “US Dollar vs Canadian Dollar”

The currency pair is trading at 1.3167 above the Ichimoku Cloud, suggesting an uptrend. Also, it has broken away the upper border of the Triangle pattern, suggesting the growth of the price for the height of the pattern. A test of the upper border of the Cloud at 1.3135 is expected, followed by growth to 1.3300. An additional signal confirming the growth will be a bounce off the lower border of the ascending channel. The growth will be canceled in the case of a breakaway of the lower border of the Cloud and securing under 1.3065, which will mean further declining to 1.2975.