Ichimoku cloud analysis: EUR/USD, USD/JPY, NZD/USD
|EUR/USD, "Euro vs US Dollar"
EURUSD is testing the lower boundary of the bearish channel. The pair is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.0635 is expected, followed by a decline to 1.0510. An additional signal confirming the decline could be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the Cloud’s upper boundary, with the price securing above 1.0755, indicating further growth to 1.0945.
USD/JPY, "US Dollar vs Japanese Yen"
USDJPY is rebounding from the signal lines of the indicator. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 154.15 is expected, followed by a rise to 155.65. An additional signal confirming the rise might be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 152.65, which will indicate a further decline to 151.75.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZDUSD has gained a foothold below the support level. The pair is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 0.5905 is expected, followed by a decline to 0.5810. An additional signal confirming the decline could be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud, with the price finding a foothold above 0.6020, which will signal further growth to 0.6115.
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