Ichimoku Cloud Analysis: AUD/USD, NZD/USD, USD/CAD

RoboForex Team RoboForex

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD is trading at 0.6873; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6930 and then resume moving downwards to reach 0.6745. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6980. In this case, the pair may continue growing towards 0.7065. After breaking the support area and fixing below 0.6825, the price may continue moving downwards and complete Head & Shoulders reversal pattern.

NZD/USD, “New Zealand Dollar vs US Dollar”

NZD/USD is trading at 0.6647; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6655 and then resume moving downwards to reach 0.6505. Another signal to confirm further descending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6735. In this case, the pair may continue growing towards 0.6855.

USD/CAD, “US Dollar vs Canadian Dollar”

USD/CAD is trading at 1.3037; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3045 and then resume moving downwards to reach 1.2875. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 1.3085. In this case, the pair may continue growing towards 1.3175.

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RoboForex Team

RoboForex

RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.

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