Ichimoku cloud analysis: EUR/USD, USD/CAD, NZD/USD
EUR/USD, “Euro vs US Dollar”
EUR/USD has found a foothold under the lower boundary of the bullish channel. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the upper boundary of the Cloud at 1.0920 is expected, followed by a decline to 1.0735. A signal confirming the decline will be a rebound from the lower boundary of the ascending channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 1.0955, which will mean a further growth to 1.1045. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the Cloud with the price finding a foothold under 1.0820.
USD/CAD, “US Dollar vs Canadian Dollar”
USD/CAD is testing the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.3565 is expected, followed by a decline to 1.3425. 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 1.3705, which will mean further growth to 1.3805.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD is correcting within a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 0.6115 is expected, followed by a rise to 0.6315. 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 0.5995, which will mean a further decline to 0.5905.
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.
