Ichimoku cloud analysis: GBP/USD, NZD/USD, USD/CAD

RoboForex Team RoboForex

GBP/USD, “Great Britain Pound vs US Dollar”

GBP/USD has found a foothold above the Kijun-Sen line. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the lower boundary of the Cloud at 1.2255 is expected, followed by a rise to 1.2425. A 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 1.2205, which will mean a further decline to 1.2110. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bearish channel with the price finding a foothold above 1.2315.

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

NZD/USD is pushing off 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 0.5895 is expected, followed by a decline to 0.5755. 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 finding a foothold above 0.5965, which will mean further growth to 0.6055.

USD/CAD, “US Dollar vs Canadian Dollar”

USD/CAD is correcting within a Triangle pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.3780 is expected, followed by a rise to 1.3925. An additional signal confirming the rise will be a rebound from the lower boundary of the Triangle pattern. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 1.3720, which will mean a further decline to 1.3630. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the Triangle pattern with the price finding a foothold above 1.3855.

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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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