Ichimoku Cloud Analysis 21.03.2024 (NZDUSD, XAUUSD, USDJPY)

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is rising following a rebound from the support level. The pair is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Cloud’s lower boundary at 0.6110 is expected, followed by a decline to 0.6015. An additional signal confirming the decline might be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud, with the price finding a foothold above 0.6165, indicating a further rise to 0.6255. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel, with the price securing below 0.6030.

XAUUSD, “Gold vs US Dollar”

Gold has gained a foothold above the indicator’s signal lines. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 2195 is expected, followed by a rise to 2265. An additional signal confirming the rise might be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the Cloud’s lower boundary, with the price finding a foothold below 2135, which will indicate a further decline to 2105.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is correcting within a bullish channel. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 149.90 is expected, followed by a rise to 152.65. An additional signal confirming the rise might be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the Cloud’s lower boundary, with the price establishing itself below 147.75, which will signal a further decline to 146.85.