Ichimoku Cloud Analysis 16.05.2023 (EURUSD, GBPUSD, NZDUSD)

By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has secured under the Tenkan-Sen line of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.0905 is expected, followed by a decline to 1.0735. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 1.1015, which will mean further growth to 1.1105.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has left the borders of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.2495 is expected, followed by a decline to 1.2315. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 1.2605, which will mean further growth to 1.2695.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is pushing off the lower border of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 0.6235 is expected, followed by a decline to 0.6055. An additional signal confirming the decline will be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 0.6325, which will mean further growth to 0.6415. Meanwhile, the decline can be confirmed by a breakout of the lower border of the bullish channel, securing under 0.6135.

Article By RoboForex.com

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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.