Ichimoku cloud analysis: EUR/USD, NZD/USD, EUR/GBP
|EUR/USD, "Euro vs US Dollar"
The currency pair has secured above the Tenkan-Sen line and is moving under the Ichimoku Cloud, suggesting a downtrend. A test of the signal lines of the indicator at 1.0515 is expected, followed by falling to 1.0275. An additional signal confirming the decline might become 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 1.0675, which will mean further growth to 1.0765.
NZD/USD, “New Zealand Dollar vs US Dollar”
The pair is bouncing off the support area and moving under the Ichimoku Cloud, suggesting a downtrend. A test of the signal line of the indicator at 0.6270 is expected, followed by falling to 0.6085. The decline can be additionally confirmed by 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 0.6479, which will entail further growth to 0.6565.
EUR/GBP, “Euro vs Great Britain Pound”
The pair has left the bullish channel and is moving above the Ichimoku Cloud, suggesting an uptrend. A test of the Tenkan-Sen line at 0.8665 is expected, followed by growth to 0.8850. An additional signal confirming the growth will be a bounce off the upper border of the bullish channel. The scenario can be canceled by a breakaway of the lower border of the Cloud and securing under 0.8495, which will entail further falling to 0.8405.
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