Ichimoku Cloud Analysis 17.07.2020 (GBPJPY, USDZAR, EURNZD)

July 17, 2020

Article By RoboForex.com

GBPJPY, “Great Britain Pound vs Japanese Yen”

GBPJPY is trading at 134.55; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 134.05 and then resume moving upwards to reach 136.55. Another signal is favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 133.85. In this case, the pair may continue falling towards 132.95. To confirm further growth, the asset must break the descending channel’s upside border and fix above 135.35.

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

USDZAR, “US Dollar vs South African Rand”


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USDZAR is trading at 16.73; 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 16.85 and then resume moving downwards to reach 16.25. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 17.00. In this case, the pair may continue growing towards 17.35.

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

EURNZD, “Euro vs New Zealand Dollar”

EURNZD is trading at 1.7394; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.7355 and then resume moving upwards to reach 1.7605. Another signal in favor of further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.7205. In this case, the pair may continue falling towards 1.7110. To confirm further growth, the asset must break the upside border of the Triangle pattern and fix above 1.7450.

EURNZD

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.