Ichimoku Cloud Analysis 04.05.2021 (BRENT, AUDNZD, NZDUSD)

Article By RoboForex.com

BRENT

Brent is trading at 67.39; 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 65.95 and then resume moving upwards to reach 72.45. 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 64.35. In this case, the pair may continue falling towards 60.65.

AUDNZD, “Australian Dollar vs New Zealand Dollar”

AUDNZD is trading at 1.0802; 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 1.0770 and then resume moving upwards to reach 1.0895. 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 1.0705. In this case, the pair may continue falling towards 1.0605.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7170; 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 0.6995. 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 0.7265. In this case, the pair may continue growing towards 0.7355. To confirm further decline, the asset must break the support level and fix below 0.7120 to complete the Head & Shoulders reversal pattern.

Article By RoboForex.com

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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.