Ichimoku Cloud Analysis 05.07.2023 (NZDUSD, USDCAD, USDCHF)
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has secured above the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 0.6155 is expected, followed by a rise to 0.6285. An additional signal confirming the rise will be a rebound from the upper border of the bearish channel. The scenario can be cancelled by a breakout of the lower border of the Cloud with the price securing under 0.6070, which will mean a further decline to 0.5980.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is correcting in a bearish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.3225 is expected, followed by a rise to 1.3415. An additional signal confirming the rise will be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a breakout of the lower border of the Cloud with the price securing under 1.3165, which will mean a further decline to 1.3070. Meanwhile, the increase could be confirmed by a breakout of the upper border of the descending channel with the price securing above 1.3275.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is rebounding from the Kijun-Sen line. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower border of the Cloud at 0.8955 is expected, followed by a rise to 0.9085. An additional signal confirming the rise will be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a breakout of the lower border of the Cloud with the price securing under 0.8940, which will mean a further decline to 0.8850. Meanwhile, the increase could be confirmed by a breakout of the upper border of the descending channel with the price securing above 0.9005.
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.