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

EUR/USD, “Euro vs US Dollar”

EUR/USD is correcting after failing to break the support level. The pair is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0875 is expected, followed by a decline to 1.0715. The decline could be additionally supported by 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 1.0955, which will signal further growth to 1.1045.

USD/JPY, “US Dollar vs Japanese Yen”

USD/JPY is rebounding from the signal lines of the indicator. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s upper boundary at 147.45 is expected, followed by a rise to 151.25. The rise could be additionally supported by 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 gaining a foothold below 145.25, which will indicate a further decline to 144.35. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the bearish channel, with the price establishing itself above 149.05.

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

NZD/USD has found a foothold above the signal lines of the indicator. The pair is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 0.6135 is expected, followed by a decline to 0.5965. The decline could be additionally supported by a rebound from the upper boundary of the descending channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud, with the price securing above 0.6205, which will indicate further growth to 0.6305.