Ichimoku Analysis: AUD/USD, NZD/USD, USD/CAD, July 16, 2018
AUD/USD
The AUD/USD is trading at 0.7434, inside the Ichimoku cloud, which means the pair is trading sideways. We expect a test of the upper cloud boundary at 0.7435, and then a downward pullback to 0.7365. This fall may be prevented in case the price breaks out the upper boundary and closes above 0.7495, which will be a signal for a further rise to 0.7510 and above. Conversely, the fall will be confirmed once the bottom boundary gets broken out and the price closes below 0.7340.
NZD/USD
The NZD/USD is trading at 0.6778, inside the Ichimoku cloud, which means the pair is trading sideways. We expect a test of the upper cloud boundary at 0.6810, and then a downward pullback to 0.6675, which may be confirmed with the price bouncing off the resistance. This fall may be prevented in case price breaks out the upper boundary and closes above 0.6835, which will be a signal for a further rise to 0.6920 and above. Conversely, the fall will be confirmed once the bottom boundary of the triangle pattern gets broken out and the price closes below 0.6710.
USD/CAD
The USD/CAD is trading at 1.3145, inside the Ichimoku cloud, which means the pair is trading sideways. We expect a test of the lower cloud boundary at 1.3120, and then an upward pullback to 1.3280, which will be confirmed with the price bouncing off the lower boundary of the descending channel. This rise may be prevented in case price breaks out the lower boundary and closes below 1.3080, which will be a signal for a further fall to 1.3010 and below. The rise will get confirmed once the upper cloud boundary is broken out and the price closes above 1.3205.
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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