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11.08.2020

GBP/USD: wave analysis

The pair may grow.

On the 4-hour chart, the third wave of the higher level (3) develops, within which the wave 3 of (3) forms. Now, the third wave of the lower level iii of 3 is developing, within which the wave (iv) of iii has formed. If the assumption is correct, the pair will grow to the levels of 1.3285–1.3515. In this scenario, critical stop loss level is 1.3011.

EUR/USD: wave analysis

The pair is in a correction, a fall is possible.

On the 4-hour chart, the first wave of the higher level 1 of (3) develops, within which the wave iii of 1 formed. Now, a local correction is developing as the fourth wave iv of 1, within which the wave (a) of iv has ended. If the assumption is correct, after the end of the wave (b) of iv the pair will fall to the levels of 1.1644–1.1472. In this scenario, critical stop loss level is 1.1920.

EUR/CAD: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (1.5486). The closest resistance level is the upper border of the cloud (1.5728).

AUD/CHF: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is ascending. The instrument has entered the cloud. The closest support level is the lower border of the cloud (0.6510). The closest resistance level is the lower border of the cloud (0.6594).

10.08.2020

GBP/CHF: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen and Kijun-sen lines have merged, the lines are horizontal . Confirmative line Chikou Span is approaching the price chart from below, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Tenkan-sen line (1.1942). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.2033).

CAD/JPY: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is crossing the price chart from below, current cloud is ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. One of the previous minimums of Chikou Span line is expected to be a support level (78.95). One of the previous maximums of Chikou Span line is expected to be a resistance level (79.86).

GBP/AUD: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is approaching the price chart from below, current cloud is ascending. The instrument is trading around upper border of the cloud. One of the previous minimums of Chikou Span line is expected to be a support level (1.8140). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.8406).

Key Releases

USD is strengthening against its main competitors – GBP, JPY, and EUR. USD is growing after the signing by US President Donald Trump of several decrees extending support to the population during the pandemic since Congressmen were not able to reach a compromise on a new stimulus package.