Ichimoku Cloud Analysis 28.05.2020 (BTCUSD, USDCAD, NZDUSD)

May 28, 2020

Article By RoboForex.com

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 9142.00; 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 9015.00 and then resume moving upwards to reach 9775.00. Another signal in favor of further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 8705.00. In this case, the pair may continue falling towards 8105.00.

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

USDCAD, “US Dollar vs Canadian Dollar”


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USDCAD is trading at 1.3766; 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 1.3775 and then resume moving downwards to reach 1.3575. Another signal in favor of further downtrend will be a rebound from the upside border of a Triangle pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.3895. In this case, the pair may continue growing towards 1.3985. To confirm further decline, the asset must break the downside border of the Triangle pattern and fix below 1.3675.

USDCAD
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 0.6187; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6165 and then resume moving upwards to reach 0.6315. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 0.6120. In this case, the pair may continue falling towards 0.6030.

NZDUSD

Article By RoboForex.com

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