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

RoboForex Team RoboForex

USD/CAD, “US Dollar vs Canadian Dollar”

USD/CAD is trading at 1.3623; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3585 and then resume moving upwards to reach 1.3685. Another signal in favor of further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.3505. In this case, the pair may continue falling towards 1.3415.

EUR/GBP, “Euro vs Great Britain Pound”

EUR/GBP is trading at 0.8955; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.8910 and then resume moving downwards to reach 0.8925. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.8995. In this case, the pair may continue growing towards 0.9085. To confirm further decline, the asset must break the downside border of a Triangle pattern and fix below 0.8945.

GBP/NZD, “Great Britain Pound vs New Zealand Dollar”

GBP/NZD is trading at 1.9189; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 1.9205 and then resume moving downwards to reach 1.8945. Another signal in favor of 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 1.9285. In this case, the pair may continue growing towards 1.9375. To confirm further decline, the asset must break the cloud’s downside and fix below 1.9105.

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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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