Ichimoku Cloud Analysis 16.10.2019 (AUDUSD, NZDUSD, USDCAD)

16.10.2019

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6732; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6755 and then resume moving downwards to reach 0.6655. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6795. In this case, the pair may continue growing towards 0.6875. After breaking the neckline of Head & Shoulders reversal pattern and fixing below 0.6705, the price may continue moving downwards.

AUDUSD
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 0.6269; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6290 and then resume moving downwards to reach 0.6185. Another signal to confirm further descending movement is the price’s rebounding from the s rising channel’s downside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6345. In this case, the pair may continue growing towards 0.6435.

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 1.3209; 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 1.3230 and then resume moving downwards to reach 1.3115. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 1.3275. In this case, the pair may continue growing towards 1.3365.

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

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.