Ichimoku Cloud Analysis 08.07.2022 (EURUSD, GBPUSD, NZDUSD) :: InvestMacro

Article by RoboForex.com

EURUSD, “Euro vs. US Dollar”

EURUSD is testing the Tenkan-Sen. The tool is currently moving below the Ichimoku Cloud, indicating a downward trend. Markets could suggest that the price may test Kijun-Sen at 1.0465 and then resume moving down to 1.0255. Another signal in favor of more bearishness will be the bounce from the ascending boundary of the descending channel. However, the bearish scenario may not be valid if the price breaks through the ascending boundary of the cloud and holds above 1.0465. In this case, the pair may continue rising towards 1.0575.

GBPUSD, “Great British Pound to US Dollar”

GBP/USD rebounded from the support level. The tool is currently moving below the Ichimoku Cloud, indicating a downward trend. Markets may indicate that the price may test Kijun-Sen at 1.2055 and then resume moving lower to reach 1.1645. Another sign in favor of more downside will be the bounce from the ascending boundary of the descending channel. However, the bearish scenario may not be valid if the price breaks through the ascending boundary of the cloud and holds above 1.2175. In this case, the pair may continue to rise towards 1.2265.

NZDUSD, “New Zealand Dollar against the US Dollar”

NZDUSD is testing the support level. The tool is currently moving below the Ichimoku Cloud, indicating a downward trend. Markets could indicate that the price may test the lower boundary of the cloud at 0.6195 and then resume moving down to reach 0.6035. Another signal in favor of more bearishness will be the bounce from the ascending boundary of the descending channel. However, the bearish scenario may not be valid if the price breaks through the ascending boundary of the cloud and holds above 0.6265. In this case, the pair may continue to rise towards 0.6355.

Article by RoboForex.com

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Forecasts presented in this section only reflect the author’s own opinion and should not be considered guidelines for trading. RoboForex LP does not assume any responsibility for the trading results based on the trading recommendations described in these analytical reviews.