Ichimoku Cloud Analysis 08.07.2022 (EURUSD, GBPUSD, NZDUSD)
EURUSD, “Euro vs US Dollar”
EURUSD is testing Tenkan-Sen. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Kijun-Sen at 1.0465 and then resume moving downwards to reach 1.0255. Another signal in favour 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 1.0465. In this case, the pair may continue growing towards 1.0575.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has rebounded from the support level. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Kijun-Sen at 1.2055 and then resume moving downwards to reach 1.1645 Another signal in favour 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 1.2175. In this case, the pair may continue growing towards 1.2265.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is testing the support level. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6195 and then resume moving downwards to reach 0.6035. Another signal in favour 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 0.6265. In this case, the pair may continue growing towards 0.6355.
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.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.