Ichimoku Cloud Analysis 26.07.2023 (EURUSD, BRENT, NZDUSD)

EURUSD, “Euro vs US Dollar”

EURUSD has secured above the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the Tenkan-Sen line at 1.1090 is expected, followed by a decline to 1.0885. An additional signal confirming the decline will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.1220, which will mean further growth to 1.1310. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel with the price securing below 1.1005.

BRENT

Brent is pushing off the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 81.55 is expected, followed by a rise to 87.05. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 77.05, which will mean a further decline to 71.50.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is correcting after a lengthy decline. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 0.6255 is expected, followed by a decline to 0.6055. An additional signal confirming the decline will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 0.6305, which will mean further growth to 0.6395.