Ichimoku Cloud Analysis 02.02.2022 (NZDUSD, USDCAD, AUDUSD)
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.6634; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6685 and then resume moving downwards to reach 0.6455. Another signal in favour of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.6735. In this case, the pair may continue growing towards 0.6825. To confirm further decline, the asset must break the bullish channel’s downside border and fix below 0.6615.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.2681; 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 1.2660 and then resume moving upwards to reach 1.2875. Another signal in favour of a further uptrend will be a rebound from the rising 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 1.2550. In this case, the pair may continue falling towards 1.2460. To confirm further growth, the asset must break the descending channel’s upside border and fix above 1.2740.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7134; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.7155 and then resume moving downwards to reach 0.6935. 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 0.7205. In this case, the pair may continue growing towards 0.7295. To confirm further decline, the asset must break the bullish channel’s downside border and fix below 0.7075.
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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