Ichimoku cloud analysis: EUR/USD, Brent, GBP/USD

EUR/USD, “Euro vs US Dollar”

EURUSD is correcting after a strong bullish impulse. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.0885 is expected, followed by growth to 1.1115. An additional signal confirming the growth will be a bounce off the lower border of the bullish channel. The scenario can be canceled by a breakaway of the lower border of the Cloud and securing under 1.0805, which will mean further falling to 1.0710.

Brent

Brent is testing the Tenkan-Sen line of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line of the Cloud at 83.50 is expected, followed by falling to 76.25. An additional signal confirming the decline will be a bounce off the upper border of the descending channel. The scenario can be canceled by a breakaway of the upper border of the Cloud and securing above 87.00, which will mean further growth to 91.00. The decline can be confirmed by a breakaway of the lower border of the bullish channel and securing under 80.00.

GBP/USD, “Great Britain Pound vs US Dollar”

GBPUSD has left the borders of the descending channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line of the Cloud at 1.2245 is expected, followed by falling to 1.2045. An additional signal confirming the decline will be a bounce off the lower border of the descending channel. The scenario can be canceled by a breakaway of the upper border of the Cloud and securing above 1.2365, which will mean further growth to 1.2455.