Ichimoku Cloud Analysis 09.04.2024 (GBPUSD, USDCAD, NZDUSD)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is rebounding from the upper boundary of the descending channel. The pair is going inside the Ichimoku Cloud, which suggests a sideways movement. A test of the Kijun-Sen line at 1.2620 is expected, followed by a rise to 1.2765. A rebound from the upper boundary of the descending channel will signal a price rise. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 1.2550, indicating a further decline to 1.2460. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the bearish channel, with the price gaining a foothold above 1.2695.

USDCAD, "US Dollar vs Canadian Dollar"

USDCAD is declining following a rebound from the resistance level. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 1.3545 is expected, followed by a rise to 1.3695. An additional signal confirming the rise will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 1.3510, which will signal a further decline to 1.3415.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is rising within a bullish channel. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 0.6005 is expected, followed by a rise to 0.6145. An additional signal confirming the rise could be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price establishing itself below 0.5945, which will indicate a further decline to 0.5865. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the bearish channel, with the price securing above 0.6075.