Ichimoku Cloud Analysis 18.02.2021 (NZDUSD, XAUUSD, CADJPY)

Article By RoboForex.com

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7183; 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 0.7205 and then resume moving downwards to reach 0.7090. Another signal in favor of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.7230. In this case, the pair may continue growing towards 0.7305. To confirm further decline, the asset must break the rising channel’s downside border and fix below 0.7155.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1782.00; 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 1795.00 and then resume moving downwards to reach 1745.00. 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 1815.00. In this case, the pair may continue growing towards 1845.00.

CADJPY, “Canadian Dollar vs Japanese Yen”

CADJPY is trading at 83.35; 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 83.05 and then resume moving upwards to reach 84.35. Another signal in favor 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 81.95. In this case, the pair may continue falling towards 81.05.

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.