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Ichimoku Cloud Analysis 16.07.2020 (USDJPY, USDCAD, NZDUSD)

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 106.93; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 107.05 and then resume moving downwards to reach 106.30. Another signal is 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 107.20. In this case, the pair may continue growing towards 108.05.

Ichimoku Cloud Analysis 16.07.2020 USDJPY
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 1.3507; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3540 and then resume moving downwards to reach 1.3425. 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 1.3585. In this case, the pair may continue growing towards 1.3675.

Ichimoku Cloud Analysis 16.07.2020 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 0.6558; 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 0.6545 and then resume moving upwards to reach 0.6620. Another signal in favor of further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 0.6525. In this case, the pair may continue falling towards 0.6440.

Ichimoku Cloud Analysis 16.07.2020 NZDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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