Ichimoku Cloud Analysis 09.01.2020 (AUDUSD, NZDUSD, USDCAD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6873; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6930 and then resume moving downwards to reach 0.6745. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6980. In this case, the pair may continue growing towards 0.7065. After breaking the support area and fixing below 0.6825, the price may continue moving downwards and complete Head & Shoulders reversal pattern.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6647; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6655 and then resume moving downwards to reach 0.6505. Another signal to confirm further descending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6735. In this case, the pair may continue growing towards 0.6855.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3037; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3045 and then resume moving downwards to reach 1.2875. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 1.3085. In this case, the pair may continue growing towards 1.3175.