Ichimoku Cloud Analysis 03.06.2020 (EURUSD, USDJPY, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1209; 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 1.1175 and then resume moving upwards to reach 1.1325. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 1.1105. In this case, the pair may continue falling towards 1.1010.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 108.50; 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 108.25 and then resume moving upwards to reach 109.55. Another signal is 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 107.25. In this case, the pair may continue falling towards 106.25.

BRENT

Brent is trading at 40.13; 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 39.50 and then resume moving upwards to reach 42.45. 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 36.50. In this case, the pair may continue falling towards 35.55.