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Ichimoku Cloud Analysis 20.04.2020 (NZDUSD, USDCAD, USDJPY)

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6035; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6055 and then resume moving downwards to reach 0.5775. 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 0.6125. In this case, the pair may continue growing towards 0.6195. After breaking the cloud’s support level and fixing below 0.5905, the price may resume moving downwards.

NZDUSD april 20
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.4087; the instrument is moving above Ichimoku Cloud, thus indicating a bullish tendency. The markets could indicate that the price may test the cloud’s downside border at 1.3965 and then resume moving upwards to reach 1.4405. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.3905. In this case, the pair may continue falling towards 1.3805. After breaking the descending channel’s upside border and fixing above 1.4235, the price may resume moving upwards.

USDCAD april 20
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 107.83; 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 108.05 and then resume moving downwards to reach 104.85. Another signal to confirm further descending movement is the price’s rebounding from the upside border of a Triangle pattern. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 108.75. In this case, the pair may continue growing towards 109.55. After breaking the downside border of the Triangle pattern and fixing below 106.25, the price may resume moving downwards.

USDJPY april 20
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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