Ichimoku Cloud Analysis 23.06.2021 (NZDUSD, XAUUSD, EURAUD)

Article By RoboForex.com

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7006; 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 0.7050 and then resume moving downwards to reach 0.6810. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.7105. In this case, the pair may continue growing towards 0.7195.

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1780.00; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1785.00 and then resume moving downwards to reach 1725.00. Another signal in favor of a further downtrend will be a rebound from the upside border of the Triangle pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1840.00. In this case, the pair may continue growing towards 1800.00. To confirm further decline, the asset must break the pattern’s downside border and fix below 1755.00.

EURAUD, “Euro vs Australian Dollar”

EURAUD is trading at 1.5810; 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 1.5760 and then resume moving upwards to reach 1.5940. 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 1.5705. In this case, the pair may continue falling towards 1.5610.

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.