Ichimoku Cloud Analysis 19.02.2020 (AUDUSD, NZDUSD, USDCAD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6692 above the Ichimoku Cloud, suggesting a downtrend. A test of the lower border of the Cloud near 0.6710 is expected, followed by a decline to 0.6560. An additional signal confirming the decline will be a bounce off the resistance level. The falling will be canceled in the case of a breakout of the upper border of the Cloud and closing above 0.6755, which will mean further growth above 0.6835. The decline will be confirmed by a breakout of the support area and closing below 0.6645. In this case, we may consider a breakout of the lower border of the Triangle pattern and the start of its execution.

NZDUSD, “New Zealand Dollar vs US Dollar”

The currency pair is trading around 0.6390 under the Ichimoku Cloud, suggesting a downtrend. A test of the lower border of the Cloud near 0.6420 is expected, followed by a decline to 0.6255. An additional signal confirming the decline will be a bounce off the upper border of the descending channel. The falling will be canceled in the case of a breakout of the upper border of the Cloud and closing above 0.6485, which will mean further growth above 0.6565.

USDCAD, “US Dollar vs Canadian Dollar”

The currency pair is trading around 1.3245 under the Ichimoku Cloud, suggesting a downtrend. A test of the upper border of the Cloud near 1.3275 is expected, followed by a decline to 1.3115. An additional signal confirming the decline will be a bounce off the lower border of the ascending channel. The falling will be canceled in the case of a breakout of the upper border of the Cloud and closing above 1.3320.