Ichimoku Cloud Analysis 26.06.2020 (BTCUSD, USDCAD, NZDUSD)

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 9180.00; 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 9205.00 and then resume moving downwards to reach 8835.00. Another signal in favor of further downtrend will be a rebound from the upside border of the Triangle pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 9325.00. In this case, the pair may continue growing towards 9605.00. To confirm further decline, the asset must break the Triangle’s downside border and fix below 9005.00.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3637; 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 1.3625 and then resume moving upwards to reach 1.3705. Another signal in favor of further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.3555. In this case, the pair may continue falling towards 1.3465.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6442; 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 0.6425 and then resume moving downwards to reach 0.6350. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.6505. In this case, the pair may continue growing towards 0.6595. To confirm further decline, the asset must break the cloud’s downside border and fix below 0.6405.