Ichimoku Cloud Analysis 18.03.2021 (NZDUSD, USDJPY, AUDUSD)

Article By RoboForex.com

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7244; 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 0.7205 and then resume moving upwards to reach 0.7395. Another signal in favor of a further uptrend will be a rebound from the upside border of a Triangle pattern. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 0.7125. In this case, the pair may continue falling towards 0.7035.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 108.86; 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 108.55 and then resume moving upwards to reach 110.85. Another signal in favor of a further uptrend will be a rebound from the downside border of the Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 107.55. In this case, the pair may continue falling towards 106.65. To confirm further growth, the asset must break the pattern’s upside border and fix above 109.85.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7822; 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 0.7785 and then resume moving upwards to reach 0.7975. Another signal in favor of a further uptrend will be a rebound from the neckline of a Head & Shoulders reversal pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.7675. In this case, the pair may continue growing towards 0.7585. To confirm further growth, the asset must break the descending channel’s upside border and fix above 0.7895.

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.