Ichimoku Cloud Analysis 29.07.2022 (GBPUSD, USDCHF, NZDUSD)

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is growing within the bullish channel. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen at 1.2140 and then resume moving upwards to reach 1.2410. 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 1.1875. In this case, the pair may continue falling towards 1.1665.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has fixed above the support area. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen at 0.9585 and then resume moving downwards to reach 0.9355. 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 0.9775. In this case, the pair may continue growing towards 0.9865.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is no longer moving inside the bullish channel. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen at 0.6295 and then resume moving upwards to reach 0.6405. Another signal in favour of a further uptrend will be a rebound from the rising channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.6150. In this case, the pair may continue falling towards 0.6055.

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.