NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7260; 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 0.7425. Another signal in favor of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 0.7105. In this case, the pair may continue falling towards 0.7015. To confirm further growth, the asset must break the resistance level and fix above 0.7270 – as we can see, bulls are testing this level for the second time.

GBPJPY, “Great Britain Pound vs Japanese Yen”

GBPJPY is trading at 151.73; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 150.05 and then resume moving upwards to reach 153.75. Another signal in favor of a further uptrend will be a rebound from the downside border of an Inverted 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 149.20. In this case, the pair may continue falling towards 148.30. To confirm further growth, the asset must break the pattern’s neckline and fix above 152.15.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7790; 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 0.7765 and then resume moving upwards to reach 0.7950. Another signal in favor of a further uptrend will be a rebound from the downside 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 0.7670. In this case, the pair may continue falling towards 0.7585. To confirm further growth, the asset must break the pattern’s upside border and fix above 0.7825.

Article By RoboForex.com