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Ichimoku Cloud Analysis 21.05.2020 (USDCAD, NZDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3940; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 1.3925 and then resume moving upwards to reach 1.4085. Another signal in favor of further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.3875. In this case, the pair may continue falling towards 1.3795. To confirm further growth, the asset must break the upside border of the Triangle pattern and fix above 1.3995.

Ichimoku Cloud Analysis 21.05.2020 USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6112; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6085 and then resume moving upwards to reach 0.6225. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 0.6015. In this case, the pair may continue falling towards 0.5925.

Ichimoku Cloud Analysis 21.05.2020 NZDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading at 0.9661; 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 0.9685 and then resume moving downwards to reach 0.9625. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.9715. In this case, the pair may continue growing towards 0.9805.

Ichimoku Cloud Analysis 21.05.2020 USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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