Ichimoku cloud analysis: EUR/USD, NZD/USD, XAU/USD
GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD has secured under the lower boundary of the Triangle pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.2145 is expected, followed by a decline to 1.1945. An additional signal confirming the decline will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.2260, which will mean further growth to 1.2355.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD has broken an important support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 0.5875 is expected, followed by a decline to 0.5735. 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 securing above 0.5985, which will mean further growth to 0.6075.
XAU/USD, “Gold vs US Dollar”
Gold is correcting within a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1940 is expected, followed by a rise to 1980. 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 securing under 1920, which will mean a further decline to 1885. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the descending channel with the price securing above 1945.
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.
