NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.7028; 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 0.7015 and then resume moving upwards to reach 0.7195. Another signal in favor of a further uptrend will be the formation of the Double Bottom reversal pattern. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 0.6945. In this case, the pair may continue falling towards 0.6850. To confirm further growth, the asset must break the descending trendline and fix above 0.7065, thus completing the above-mentioned reversal pattern.
CADJPY, “Canadian Dollar vs Japanese Yen”
CADJPY is trading at 87.60; 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 87.95 and then resume moving downwards to reach 85.85. Another signal in favor of a 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 89.05. In this case, the pair may continue growing towards 90.05.
NZDCHF, “New Zealand Dollar vs Swiss Franc”
NZDCHF is trading at 0.6420; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6435 and then resume moving downwards to reach 0.6290. Another signal in favor of a further downtrend will be a rebound from the bearish 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 0.6455. In this case, the pair may continue growing towards 0.6545. To confirm further decline, the asset must break the rising channel’s downside border and fix below 0.6380.
