Ichimoku Cloud Analysis 31.07.2017 (AUD/USD, NZD/USD, USD/CAD)
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is trading at 0.7970; it is still moving above Ichimoku Cloud, which means that it may continue growing. We should expect the price to test the upside border of the cloud at 0.7945 and then continue moving upwards above 0.8120. However, this scenario may be cancelled if the price breaks the downside border of the cloud and fixes below 0.7880. In this case, the instrument may continue falling towards 0.7710.
NZD/USD, “New Zealand Dollar vs US Dollar”
The NZD/USD pair is trading at 0.7495; it is still moving above Ichimoku Cloud, which means that it may continue growing. We should expect the price to test the support area at 0.7465 and then continue moving upwards to reach 0.7625. However, the scenario that implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 0.7380. In this case, the instrument may continue falling towards 0.7295.
USD/CAD, “US Dollar vs Canadian Dollar”
The USD/CAD pair is trading at 1.2464; it is still moving below Ichimoku Cloud, which means that it may continue falling. We should expect the price to test Tenkan-Sen and Kijun-Sen at 1.2485 and then continue moving downwards to reach 1.2310. However, this scenario may be cancelled if the price breaks the upside border of the cloud and fixes above 1.2580. In this case, the instrument may continue growing towards 1.2740 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.