Ichimoku Cloud Analysis 05.12.2023 (EURUSD, NZDUSD, USDCHF)

EURUSD, “Euro vs US Dollar” /strong>

EURUSD has secured above the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.0865 is expected, followed by a decline to 1.0725. An additional signal confirming the decline will 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 1.0930, which will mean further growth to 1.1025.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is correcting after a rebound from the resistance. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 0.6125 is expected, followed by a rise to 0.6325. An additional signal confirming the rise will 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 finding a foothold under 0.6055, which will mean a further decline to 0.5965.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has left the boundaries of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 0.8705 is expected, followed by a rise to 0.8815. 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 finding a foothold under 0.8675, which will mean a further decline to 0.8585. Meanwhile, the growth could be confirmed by a breakout of the neck line of the Head and Shoulders pattern with the price finding a foothold above 0.8765.