Ichimoku Cloud Analysis 02.08.2017 (AUD/USD, NZD/USD, USD/CAD)
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is trading at 0.7995; it is still moving above Ichimoku Cloud, which means that it may continue growing. We should expect the price to rebound from the upside border of the cloud and then continue moving upwards above 0.8100. However, this scenario may be cancelled if the price breaks the downside border of the cloud and fixes below 0.7935. In this case, the instrument may continue falling towards 0.7740.
NZD/USD, “New Zealand Dollar vs US Dollar”
The NZD/USD pair is trading at 0.7428; it broke the upside border of Ichimoku Cloud, which means that the tendency may change to a sideways one. We should expect the price to test the downside border of the cloud and then continue growing towards the upside one at 0.7485. However, the scenario that implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 0.7390. In this case, the instrument may continue falling towards 0.7345.
USD/CAD, “US Dollar vs Canadian Dollar”
The USD/CAD pair is trading at 1.2579; it broke Ichimoku Cloud, which means that the tendency may change to an ascending one. We should expect the price to test the upside border of the cloud at 1.2565 and then continue moving upwards to reach 1.2685. However, this scenario may be cancelled if the price breaks the downside border of the cloud and fixes below 1.2485. In this case, the instrument may continue falling towards 1.2310 and lower.
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.