Article By RoboForex.com
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7331; 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 0.7295 and then resume moving upwards to reach 0.7465. Another signal in favor of a further uptrend will be a rebound from the “neckline” of the 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 0.7205. In this case, the pair may continue falling towards 0.7110.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.6936; 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 0.6940 and then resume moving downwards to reach 0.6765. 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 0.7020. In this case, the pair may continue growing towards 0.7125. To confirm further decline, the asset must break the pattern’s downside border and fix below 0.6845.
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USDCHF, “US Dollar vs Swiss Franc”
USDCHF is trading at 0.9269; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.9290 and then resume moving downwards to reach 0.9145. Another signal in favor of a further downtrend will be a rebound from the right “Shoulder” level of a Head & Shoulders reversal pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.9315. In this case, the pair may continue growing towards 0.9405. To confirm further decline, the asset must break the pattern’s “neckline” and fix below 0.9210.
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.
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