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Ichimoku Cloud Analysis 05.07.2021 (CADCHF, NZDUSD, USDCAD)

CADCHF, “Canadian Dollar vs Swiss Franc”

CADCHF is trading at 0.7411; 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 0.7440 and then resume moving upwards to reach 0.7530. Another signal in favor of a further uptrend will be a rebound from the downside border of a Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.7420. In this case, the pair may continue falling towards 0.7330. To confirm further growth, the asset must break the pattern’s upside border and fix above 0.7495.

Ichimoku Cloud Analysis 05.07.2021 CADCHF
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 0.7016; 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 0.7020 and then resume moving downwards to reach 0.6850. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.7080. In this case, the pair may continue growing towards 0.7175.

Ichimoku Cloud Analysis 05.07.2021 NZDUSD
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 1.2342; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2330 and then resume moving upwards to reach 1.2625. Another signal in favor of a further uptrend will be a rebound from the downside border of the Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2265. In this case, the pair may continue falling towards 1.2175. To confirm further growth, the asset must break the pattern’s upside border and fix above 1.2455.

Ichimoku Cloud Analysis 05.07.2021 USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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