Ichimoku Cloud Analysis 04.11.2021 (NZDUSD, GBPJPY, AUDUSD)

Article By RoboForex.com

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7141; 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 0.7165 and then resume moving downwards to reach 0.7020. 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 0.7205. In this case, the pair may continue growing towards 0.7305.

GBPJPY, “Great Britain Pound vs Japanese Yen”

GBPJPY is trading at 155.94; 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 156.45 and then resume moving downwards to reach 153.00. 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 157.35. In this case, the pair may continue growing towards 158.45.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7432; 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 0.7445 and then resume moving downwards to reach 0.7325. Another signal in favour of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.7535. In this case, the pair may continue growing towards 0.7625.

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.