Ichimoku cloud analysis: GBP/NZD, NZD/CHF, XAG/USD
|GBP/NZD, “Great Britain Pound vs New Zealand Dollar”
GBP/NZD is trading at 1.9194; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.9260 and then resume moving downwards to reach 1.8775. Another signal in favor of a further downtrend will be a rebound from the descending channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.9505. In this case, the pair may continue growing towards 1.9615.
NZD/CHF, “New Zealand Dollar vs Swiss Franc”
NZD/CHF is trading at 0.6602; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6565 and then resume moving upwards to reach 0.6705. Another signal in favor of a 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 0.6465. In this case, the pair may continue falling towards 0.6375.
XAG/USD, “Silver vs US Dollar”
XAG/USD is trading at 25.88; 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 25.15 and then resume moving upwards to reach 27.45. Another signal in favor of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 24.45. In this case, the pair may continue falling towards 23.55.
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