Ichimoku Cloud Analysis 08.07.2021 (EURJPY, NZDCHF, AUDUSD)
EURJPY, “Euro vs Japanese Yen”
EURJPY is trading at 130.17; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 130.65 and then resume moving downwards to reach 129.25. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 131.35. In this case, the pair may continue growing towards 132.25.
NZDCHF, “New Zealand Dollar vs Swiss Franc”
NZDCHF is trading at 0.6461; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6450 and then resume moving upwards to reach 0.6575. Another signal in favor of a further uptrend will be a rebound from the bullish channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.6435. In this case, the pair may continue falling towards 0.6345.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7457; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.7505 and then resume moving downwards to reach 0.7295. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.7555. In this case, the pair may continue growing towards 0.7645. To confirm further decline, the asset must break the downside border of the Triangle pattern and fix below 0.7390.
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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