NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is declining within a bearish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 0.6165 is expected, followed by a decline to 0.6005. The decline could be additionally supported by 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 0.6285, which will mean further growth to 0.6375. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bearish channel with the price finding a foothold below 0.6055.
XAUUSD, “Gold vs US Dollar”
Gold is rebounding from the lower boundary of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 2030 is expected, followed by a decline to 1980. The decline could be additionally supported by 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 2050, which will mean further growth to 2085.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has found a foothold above the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 0.8575 is expected, followed by a rise to 0.8775. The rise could be additionally confirmed by 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 0.8435, which will mean a further decline to 0.8345.
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.