Ichimoku Cloud Analysis 13.05.2021 (GBPUSD, BRENT, NZDUSD)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.4049; 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 1.3995 and then resume moving upwards to reach 1.4295. 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 1.3920. In this case, the pair may continue falling towards 1.3805.

BRENT

Brent is trading at 68.33; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 67.75 and then resume moving upwards to reach 73.35. Another signal in favor of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 66.55. In this case, the pair may continue falling towards 63.75.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7165; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.7225 and then resume moving downwards to reach 0.6995. Another signal in favor of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.7265. In this case, the pair may continue growing towards 0.7355. To confirm further decline, the asset must break the support level and fix below 0.7120 to complete a Head & Shoulders reversal pattern.