Ichimoku Cloud Analysis 05.02.2021 (ETHUSD, NZDUSD, AUDCHF)

Article By RoboForex.com

ETHUSD, “Ethereum vs US Dollar”

ETHUSD is trading at 1639.30; 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 1620.05 and then resume moving upwards to reach 1835.00. Another signal in favor of a further uptrend is a rebound from the downside border of a Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1505.00. In this case, the pair may continue falling towards 1415.00. To confirm further growth, the asset must break the pattern’s upside border and fix above 1685.00.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7154; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.7175 and then resume moving downwards to reach 0.7005. Another signal in favor of a further downtrend will be a rebound from the resistance area. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.7220. In this case, the pair may continue growing towards 0.7295. To confirm further decline, the asset must break the downside border of the Triangle pattern and fix below 0.7105.

AUDCHF, “Australian Dollar vs Swiss Franc”

AUDCHF is trading at 0.6873; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6840 and then resume moving upwards to reach 0.6955. Another signal in favor of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.6790. In this case, the pair may continue falling towards 0.6735.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.