Ichimoku Cloud Analysis 08.09.2021 (USDCAD, USDJPY, EURGBP)

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2658; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2610 and then resume moving upwards to reach 1.2830. Another signal in favor of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2535. In this case, the pair may continue falling towards 1.2445. To confirm further growth, the asset must break the cloud’s upside border and fix above 1.2720.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 110.41; 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 110.15 and then resume moving upwards to reach 111.85. Another signal in favor of a further uptrend will be a rebound from the upside border of the Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 109.55. In this case, the pair may continue falling towards 108.65.

EURGBP, “Euro vs Great Britain Pound”

EURGBP is trading at 0.8596; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.8580 and then resume moving upwards to reach 0.8675. Another signal in favor of a 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 0.8555. In this case, the pair may continue falling towards 0.8465.