Ichimoku Cloud Analysis 03.03.2021 (LTCUSD, EURUSD, NZDUSD)

Article By RoboForex.com

LTCUSD, “Litecoin vs US Dollar”

LTCUSD is trading at 192.11; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 180.05 and then resume moving upwards to reach 240.05. Another signal in favor of a further uptrend is a rebound from the descending channel’s upside. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 157.05. In this case, the pair may continue falling towards 135.05. To confirm further growth, the asset must break the upside border of a Double Bottom pattern and fix above 210.55.

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2079; 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 1.2105 and then resume moving downwards to reach 1.1905. 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 1.2185. In this case, the pair may continue growing towards 1.2275.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7281; 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 0.7305 and then resume moving downwards to reach 0.7075. 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 0.7415. In this case, the pair may continue growing towards 0.7505. To confirm further decline, the asset must break the support area and fix below 0.7210, thus indicating the completion of a Head & Shoulders reversal pattern.

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.