Ichimoku cloud analysis: GBP/USD, XAG/USD, USD/CHF
|EUR/USD, “Euro vs US Dollar”
EUR/USD has gained a foothold above the resistance level. The pair is moving above the Ichimoku Cloud, suggesting an uptrend. A test of the Tenkan-Sen line at 1.0865 is expected, followed by a rise to 1.1065. A rebound from the lower boundary of the bullish channel would be an additional signal confirming the increase. The scenario could be invalidated by a breakout of the lower boundary of the Cloud, with the price securing below 1.0805, indicating a further decline to 1.0715.
XAG/USD, “Silver vs US Dollar”
Silver is rebounding from the indicator’s signal lines. The instrument is moving below the Ichimoku Cloud, indicating a downtrend. A test of the Cloud’s lower boundary at 30.65 is expected, followed by a decline to 28.35. A rebound from the upper boundary of the bearish channel would be an additional signal confirming the decline. A breakout of the Cloud’s upper boundary could invalidate this scenario, with the price securing above 31.75, indicating a further rise to 32.65. Conversely, the fall could be confirmed by a breakout below the lower boundary of the Double Top reversal pattern, with the price establishing itself below 29.55.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD is testing the upper boundary of the bullish channel. The pair is moving above the Ichimoku Cloud, suggesting an uptrend. A test of the Tenkan-Sen line at 0.6165 is expected, followed by a rise to 0.6285. A rebound from the lower boundary of the bullish channel would be an additional signal confirming the upward movement. A breakout below the Cloud’s lower boundary could invalidate the scenario, with the price securing below 0.6110, indicating a further decline to 0.6015. Conversely, the rise could be confirmed by a breakout of the upper boundary of the bullish channel, with the price finding a foothold above 0.6225.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.