Ichimoku Cloud Analysis 05.06.2018 (AUDUSD, NZDUSD, USDCAD)
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7630; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7605 and then continue moving upwards to reach 0.7715. 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 cancelled if the price breaks the downside border of the cloud and fixes below 0.7520. In this case, the pair may continue falling towards 0.7440. After breaking the channel’s upside border and fixing above 0.7670, the price may continue moving upwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.7026; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7000 and then continue moving upwards to reach 0.7095. 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 cancelled if the price breaks the downside border of the cloud and fixes below 0.6935.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.2933; the instrument is moving inside Ichimoku Cloud, which means that it is moving sideways. The markets could indicate that the price may test the downside border of the cloud at 1.2900 and then continue moving upwards to reach 1.3065. 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 cancelled if the price breaks the downside border of the cloud and fixes below 1.2860. In this case, the pair may continue falling towards 1.2745. After breaking the upside border of the cloud and fixing above 1.2965, 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.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.