Ichimoku Cloud Analysis 05.05.2022 (GBPUSD, USDCAD, NZDUSD)

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is falling within the bearish channel. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2575 and then resume moving downwards to reach 1.2255 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 1.2755. In this case, the pair may continue growing towards 1.2845. To confirm further decline, the asset must break the bullish channel’s downside border and fix below 1.2395.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is testing the support area. The instrument is currently moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2660 and then resume moving upwards to reach 1.2995. 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 1.2605. In this case, the pair may continue falling towards 1.2510.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD his rebounding from the bearish channel’s upside border. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6530 and then resume moving downwards to reach 0.6275. 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 0.6655. In this case, the pair may continue growing towards 0.6745.

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.