Ichimoku cloud analysis: EUR/USD, NZD/USD, USD/CHF

EUR/USD, “Euro vs US Dollar”

EUR/USD has secured above the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.0865 is expected, followed by a decline to 1.0725. An additional signal confirming the decline will 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 1.0930, which will mean further growth to 1.1025.

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

NZD/USD is correcting after a rebound from the resistance. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 0.6125 is expected, followed by a rise to 0.6325. An additional signal confirming the rise will 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 finding a foothold under 0.6055, which will mean a further decline to 0.5965.

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF has left the boundaries of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 0.8705 is expected, followed by a rise to 0.8815. An additional signal confirming the rise will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 0.8675, which will mean a further decline to 0.8585. Meanwhile, the growth could be confirmed by a breakout of the neck line of the Head and Shoulders pattern with the price finding a foothold above 0.8765.