Ichimoku Cloud Analysis 12.07.2022 (EURUSD, GBPUSD, NZDUSD)
EURUSD, “Euro vs US Dollar”
EURUSD continues falling inside the bearish channel. 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 1.0095 and then resume moving downwards to reach 0.9745. 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 1.0415. In this case, the pair may continue growing towards 1.0505.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is rebounding from the support level again. 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 1.1975 and then resume moving downwards to reach 1.1595 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 1.2165. In this case, the pair may continue growing towards 1.2255.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has fixed below the support level, thus indicating bears’ dominance. 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 0.6170 and then resume moving downwards to reach 0.5975. 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.
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