Ichimoku Analysis: AUD/USD, NZD/USD, USD/CAD, July 23, 2018
AUD/USD
The AUD/USD is trading at 0.7423, above the Ichimoku cloud, which means there's an uptrend forming. We expect a test of the upper cloud boundary at 0.7405, and then a rise to 0.7515 and above, which will be confirmed with the price bouncing off the lower boundary of the descending channel. This rise may be prevented in case price breaks out the lower boundary of the Ichimoku cloud and closes below 0.7375, which will be a signal for a further fall to 0.7320 and below.
NZD/USD
The NZD/USD is trading at 0.6814, above the Ichimoku cloud, which means there's an uptrend forming. We expect a test of the upper cloud boundary at 0.6790, and then a rise to 0.6885 and above, which may be confirmed with the price bouncing off the support. This rise may be prevented in case price breaks out the lower boundary and closes below 0.6755, which will be a signal for a further fall to 0.6700 and below. The rise will get confirmed once the upper boundary of the descending channel is broken out and the price closes above 0.6840.
USD/CAD
The USD/CAD is trading at 1.3131, below the Ichimoku cloud, which means there's a downtrend forming. We expect a test of the lower cloud boundary at 1.3140, and then a downward pullback to 1.3035. The price bouncing off the lower boundary of the ascending channel signals a potential downward movement. This fall may be prevented in case price breaks out the upper boundary and closes above 1.3195, which will be a signal for a further rise to 1.3310 and above.
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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