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Ichimoku Cloud Analysis 07.02.2024 (EURUSD, BRENT, NZDUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is correcting after a rebound from the lower boundary of the descending channel. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the Kijun-Sen line at 1.0795 is expected, followed by a decline to 1.0615. An additional signal confirming the decline could be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 1.0895, which will mean further growth to 1.0985.

Ichimoku Cloud Analysis 07.02.2024 EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is testing the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 79.55 is expected, followed by a decline to 74.55. An additional signal confirming the decline could be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 83.05, which will mean further growth to 87.00. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the ascending channel with the price finding a foothold under 77.65.

Ichimoku Cloud Analysis 07.02.2024 BRENT
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 rising after a rebound from the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 0.6110 is expected, followed by a decline to 0.5985. An additional signal confirming the decline could be a rebound from the upper boundary of the descending channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 0.6140, which will mean further growth to 0.6235.

Ichimoku Cloud Analysis 07.02.2024 NZDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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