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

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

EURUSD is correcting inside the bearish channel. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen at 0.9705 and then resume moving downwards to reach 0.9310. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.0055. In this case, the pair may continue growing towards 1.0145.

XAU/USD, “Gold vs US Dollar”

XAUUSD is rebounding from the bearish channel’s downside border. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen at 1645.00 and then resume moving downwards to reach 1585.00. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1705.00. In this case, the pair may continue growing towards 1745.00.

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

NZDUSD is rebounding from the support area. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen at 0.5765 and then resume moving downwards to reach 0.5485. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.6030. In this case, the pair may continue growing towards 0.6125.

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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.

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