Ichimoku Analysis: AUD/USD, NZD/USD, USD/CAD, July 25, 2018
AUD/USD
The AUD/USD is trading at 0.7396 inside the Ichimoku cloud, which means the pair is trading sideways. We expect a test of the lower cloud boundary at 0.7380, and then a rise to 0.7505. This rise may be prevented in case the price breaks out the lower boundary of Ichimoku cloud and closes below 0.7360, which will be a signal for a further fall to 0.7305 and below. The breakout of the support and closing above 0.7450 will confirm the development of an uptrend.
NZD/USD
The NZD/USD is trading at 0.6795 above the Ichimoku cloud, which means there's an uptrend forming. We expect a test of the lower cloud boundary at 0.6780, and then a continuous rise to 0.6870. This rise may be prevented in case the price breaks out the lower boundary of Ichimoku cloud and closes below 0.6750, which will be a signal for a further fall to 0.6705. The breakout of the upper boundary of the descending channel and closing above 0.6830 will confirm the development of an uptrend.
USD/CAD
The USD/CAD is trading at 1.3157 below the Ichimoku cloud, which means there is a downtrend forming. We expect a test of the lower cloud boundary at 1.3165, and then a continuous fall to 1.3030. This fall may be prevented in case price breaks out the upper boundary and closes above 1.3235, which will be a signal for a further rise to 1.3290. The fall will be confirmed once the bottom boundary of the triangle pattern gets broken out and the price closes below 1.3110.
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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