Ichimoku cloud analysis: NZD/USD, XAU/USD, USD/CHF

RoboForex Team RoboForex

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

NZD/USD is declining within a bearish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 0.6165 is expected, followed by a decline to 0.6005. The decline could be additionally supported by 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 finding a foothold above 0.6285, which will mean further growth to 0.6375. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bearish channel with the price finding a foothold below 0.6055.

XAU/USD, “Gold vs US Dollar”

Gold is rebounding from the lower boundary of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 2030 is expected, followed by a decline to 1980. The decline could be additionally supported by 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 finding a foothold above 2050, which will mean further growth to 2085.

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF has found a foothold above the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 0.8575 is expected, followed by a rise to 0.8775. The rise could be additionally confirmed by 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 0.8435, which will mean a further decline to 0.8345.

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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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