Ichimoku Cloud Analysis 29.10.2021 (NZDUSD, USDJPY, USDCHF)

Article By RoboForex.com

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7184; 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 0.7150 and then resume moving upwards to reach 0.7325. Another signal in favour 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 0.7035. In this case, the pair may continue falling towards 0.6945.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 113.52; 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 113.85 and then resume moving downwards to reach 111.75. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 114.55. In this case, the pair may continue growing towards 115.45.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading at 0.9117; 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 0.9160 and then resume moving downwards to reach 0.8985. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.9255. In this case, the pair may continue growing towards 0.9345.

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.