Ichimoku Cloud Analysis 24.08.2021 (USDCHF, EURJPY, NZDUSD)

Article By RoboForex.com

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading at 0.9129; 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 0.9160 and then resume moving downwards to reach 0.9010. 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 0.9190. In this case, the pair may continue growing towards 0.9275. To confirm further decline, the asset must break the pattern’s downside border and fix below 0.9085.

EURJPY, “Euro vs Japanese Yen”

EURJPY is trading at 128.93; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 128.70 and then resume moving upwards to reach 130.25. Another signal in favor of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 128.25. In this case, the pair may continue falling towards 127.35. To confirm further growth, the asset must break the descending channel’s upside border and fix above 129.25.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6916; 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 0.6945 and then resume moving downwards to reach 0.6755. 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 cancelled if the price breaks the cloud’s upside border and fixes above 0.6995. In this case, the pair may continue growing towards 0.7085. To confirm further decline, the asset must break the rising channel’s downside border and fix below 0.6880.

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.