Ichimoku Cloud Analysis 08.11.2021 (AUDUSD, GBPUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
The currency pair is trading at 0.7410 under the Ichimoku Cloud, suggesting a downtrend. A test of the signal lines of the indicator at 0.7420 is expected, followed by falling to 0.7275. An additional signal confirming the decline might become a bounce off the upper border of the descending channel. The scenario can be canceled by a breakaway of the upper border of the Cloud and securing above 0.7515, which will mean further growth to 0.7605.
GBPUSD, “Great Britain Pound vs US Dollar”
The currency pair is trading at 1.3487 under the Ichimoku Cloud, suggesting a downtrend. A test of the signal lines of the indicator at 1.3540 is expected, followed by falling to 1.3295. The decline can be additionally confirmed by a bounce off the upper border of the descending channel. The scenario can be canceled by a breakaway of the upper border of the Cloud and securing above 1.3755, which will entail further growth to 1.3845.
NZDUSD, “New Zealand Dollar vs US Dollar”
Gold is trading at 0.7137 under the Ichimoku Cloud, suggesting a downtrend. A test of the upper border of the Cloud at 0.7150 is expected, followed by falling to 0.6965. An additional signal confirming the decline will be a bounce off the upper border of the descending channel. The scenario can be canceled by a breakaway of the upper border of the Cloud and securing above 0.7205, which will entail further growth to 0.7305.
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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