Ichimoku cloud analysis: GBP/USD, NZD/USD, USD/CHF
GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD is correcting following a rebound from the resistance area. The pair is going inside the Ichimoku Cloud, which suggests a sideways trend. A test of the Cloud’s lower boundary at 1.2445 is expected, followed by a rise to 1.2625. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario could be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 1.2395, which will signal a further decline to 1.2305. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the bearish channel, with the price finding a foothold above 1.2540.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD is testing the support level. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s upper boundary at 0.5955 is expected, followed by a rise to 0.6085. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario could be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 0.5905, which will signal a further decline to 0.5810. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the bearish channel, with the price establishing itself above 0.6005.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF is correcting within a Wedge pattern under formation. The pair is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 0.9095 is expected, followed by a decline to 0.9225. 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 0.9160, indicating further growth to 0.9250. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the Wedge reversal pattern, with the price gaining a foothold below 0.9050.
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.
