Ichimoku Cloud Analysis 28.05.2021 (EURUSD, NZDCHF, USDJPY)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2177; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2195 and then resume moving downwards to reach 1.2075. 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 1.2230. In this case, the pair may continue growing towards 1.2345. To confirm further decline, the asset must break the support level and fix below 1.2135, thus breaking the bullish channel.

NZDCHF, “New Zealand Dollar vs Swiss Franc”

NZDCHF is trading at 0.6513; 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 0.6495 and then resume moving upwards to reach 0.6635. 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 0.6435. In this case, the pair may continue falling towards 0.6335.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 109.86; 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 109.45 and then resume moving upwards to reach 110.50. 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 109.05. In this case, the pair may continue falling towards 108.10.

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.