Ichimoku cloud analysis: EUR/USD, USD/JPY, NZD/USD
|EURU/SD, “Euro vs US Dollar”
EUR/USD has pushed off the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the upper border of the Cloud at 1.0715 is expected, followed by a decline to 1.0465. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 1.0775, which will mean further growth to 1.0875.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY has secured above the upper border of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 139.65 is expected, followed by a rise to 143.55. An additional signal confirming the rise will be a rebound from the upper border of the bearish channel. The scenario can be cancelled by a breakout of the lower border of the Cloud, securing under 138.55, which will mean a further decline to 137.65.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD is correcting inside a bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 0.6065 is expected, followed by a decline to 0.5865. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 0.6175, which will mean further growth to 0.6265. Meanwhile, the decline could be confirmed by a breakout of the lower border of the bullish channel, securing under 0.6035.
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