Ichimoku Analysis: AUD/USD, NZD/USD, USD/CAD, July 26, 2018
AUD/USD
The AUD/USD is trading at 0.7443 above the Ichimoku cloud, which means there's an uptrend forming. We expect a test of the upper cloud boundary at 0.7420, and then a further growth to 0.7510. This rise may be prevented in case the price breaks out the lower boundary of Ichimoku cloud and closes below 0.7385, which will be a signal for a further fall to 0.7305 and below. The rise of the price may be confirmed by the price bouncing off the support level.
NZD/USD
The NZD/USD is trading at 0.6840 above the Ichimoku cloud, which means there is an uptrend forming. We expect a test of the signal lines at 0.6820, and then a continuous rise to 0.6890. 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 0.6775. The rise of the price may be confirmed by the price bouncing off the lower border of the ascending channel.
USD/CAD
The USD/CAD is trading at 1.3033 below the Ichimoku cloud, which means there is a downtrend forming. We expect a test of the lower signal lines at 1.3055, and then a continuous fall to 1.2960. This fall may be prevented in case price breaks out the upper boundary and closes above 1.3125, which will be a signal for a further rise to 1.3195. The fall of the price may be confirmed by the price bouncing off the upper boundary of the descending channel.
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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