Ichimoku Cloud Analysis 10.07.2017 (AUD/USD, NZD/USD, USD/CAD)
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is trading at 0.7600; it is still moving below Ichimoku Cloud, which means that it may continue falling. We should expect the price to test the downside border of the cloud close to 0.7620 and then continue moving downwards below 0.7520. However, this scenario may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7650. In this case, the instrument may continue growing towards 0.7720.
NZD/USD, “New Zealand Dollar vs US Dollar”
The NZD/USD pair is trading at 0.7274; it is moving inside Ichimoku Cloud, which means that it will continue moving sideways until leaving the cloud. We should expect the price to break the downside border of the cloud and then continue moving downwards to reach 0.7210. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7300. In this case, the instrument may continue growing towards 0.7360 and higher.
USD/CAD, “US Dollar vs Canadian Dollar”
The USD/CAD pair is trading at 1.2891; it is still moving below Ichimoku Cloud, which means that it may continue falling. We should expect the price to test the downside border of the cloud at 1.2940 and then continue moving downwards to reach 1.2770. However, this scenario may be cancelled if the price breaks the upside border of the cloud and fixes above 1.3120. In this case, the instrument may continue growing towards 1.3230 and higher.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.