Ichimoku Cloud Analysis 21.08.2019 (AUDUSD, NZDUSD, USDCAD)
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.6780; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6770 and then resume moving upwards to reach 0.6910. Another signal to confirm further ascending movement is the price’s rebounding from Triangle’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.6725. In this case, the pair may continue falling towards 0.6615. After breaking the descending channel’s upside border and fixing above 0.6825, the price may continue moving upwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.6408; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6445 and then resume moving downwards to reach 0.6285. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6510. In this case, the pair may continue growing towards 0.6605.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.3306; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3265 and then resume moving upwards to reach 1.3515. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.3255. In this case, the pair may continue falling towards 1.3165. After breaking the descending channel’s upside border and fixing above 1.3355, the price may continue moving upwards.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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