Ichimoku cloud analysis: EUR/USD, NZD/USD, USD/CAD
EUR/USD, “Euro vs US Dollar”
EUR/USD is testing the resistance area. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.0745 is expected, followed by a rise to 1.0925. An additional signal confirming growth will be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a breakout of the lower border of the Cloud, securing under 1.0655, which will indicate a further decline to 1.0565.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD is testing the upper border of the bearish channel. The instrument is going inside the Ichimoku Cloud, which suggests a sideways movement. A test of the upper border of the Cloud at 0.6110 is expected, followed by a decline to 0.5915. 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 0.6145, which will indicate further growth to 0.6235. The decline could be confirmed by a breakout of the lower border of the bullish channel, securing under 0.6035.
USD/CAD, “US Dollar vs Canadian Dollar”
USD/CAD is pushing off the signal lines of the indicator. The instrument is going under the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.3360 is expected, followed by a decline to 1.3225. 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 1.3545, which will indicate further growth to 1.3635.
Author
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.
