Ichimoku Analysis: AUDUSD, NZDUSD, USDCAD, 20/03/2019
AUDUSD
The AUDUSD is trading at 0.7074, below the Ichimoku cloud, which means there's a downtrend forming. We expect a test of the signal lines at 0.7085, and then a fall to 0.7025, which will be confirmed with the price bouncing off the lower boundary of the descending channel. This fall may be prevented in case the price breaks out the upper boundary and closes above 0.7110, which will be a signal for a further rise to 0.7195 and above.
NZDUSD
The NZDUSD is trading at 0.6833, below the Ichimoku cloud, which means there's a downtrend forming. We expect a test of the signal lines at 0.6845, and then a fall to 0.6795, which may be confirmed with the price bouncing off the resistance area. This fall may be prevented in case price breaks out the upper boundary and closes above 0.6865, which will be a signal for a further rise to 0.6925.
USDCAD
The USDCAD is trading at 1.3331, inside the Ichimoku cloud, which means the pair is trading sideways. We are expecting a test of the upper cloud boundary at 1.3340, and then a downward pullback to 1.3235, which may be confirmed with the price bouncing off the resistance. This fall may be prevented in case the price breaks out the upper boundary and closes above 1.3355, which will be a signal for a further rise to 1.3395.
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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