Ichimoku Cloud Analysis 09.07.2021 (NZDUSD, USDJPY, USDCHF)
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.6940; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6960 and then resume moving downwards to reach 0.6805. Another signal in favor of a further downtrend will be a rebound from the downside border of a Triangle pattern. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.7050. In this case, the pair may continue growing towards 0.7145.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 109.97; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 110.10 and then resume moving downwards to reach 108.95. Another signal in favor 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 110.25. In this case, the pair may continue growing towards 111.10.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is trading at 0.9157; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.9190 and then resume moving downwards to reach 0.9050. Another signal in favor of a further downtrend will be a rebound from the bullish channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.9260. In this case, the pair may continue growing towards 0.9350.
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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