Ichimoku cloud analysis: EUR/USD, XAU/USD, NZD/USD
EUR/USD, “Euro vs US Dollar”
The EUR/USD pair is correcting after a rebound from the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of lower boundary of the Cloud at 1.0675 is expected, followed by a decline to 1.0535. An additional signal confirming the decline will be a rebound from the upper boundary of the Triangle pattern. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.0755, which will mean further growth to 1.0945. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the pattern with the quotes securing under the 1.0590 level.
XAU/USD, “Gold vs US Dollar”
Gold has secured under the lower boundary of the bullish channel. The instrument is going inside the Ichimoku Cloud, which suggests a flat trend. A test of the lower boundary of the Cloud at 2345 is expected, followed by a rise to 2465. 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 securing under 2330, which will mean a further decline to 2275.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD is rebounding from the resistance level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 0.5930 is expected, followed by a decline to 0.5795. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 0.5990, which will mean further growth to 0.6090.
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.
