Ichimoku Cloud Analysis 27.11.2020 (AUDUSD, GBPUSD, BRENT)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7373; 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 0.7340 and then resume moving upwards to reach 0.7505. Another signal in favor of further uptrend will be a rebound from the upside border of an Ascending Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.7235. In this case, the pair may continue falling towards 0.7065.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3367; 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 1.3335 and then resume moving upwards to reach 1.3550. 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 1.3195. In this case, the pair may continue falling towards 1.3105. To confirm further growth, the asset must break the resistance area and fix above 1.3510, thus breaking the upside border of the Triangle pattern.

BRENT

Brent is trading at 47.65; 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 46.05 and then resume moving upwards to reach 51.85. 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 43.95. In this case, the pair may continue falling towards 42.95.