NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.6648; 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 0.6665 and then resume moving downwards to reach 0.6460. Another signal in favour of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.6695. In this case, the pair may continue growing towards 0.6785. To confirm further decline, the asset must break the “neckline” of a Head & Shoulders reversal pattern and fix below 0.6560.
GBPAUD, “Great Britain Pound vs Australian Dollar”
GBPAUD is trading at 1.8907; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.8975 and then resume moving downwards to reach 1.8705. Another signal in favour of a 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 1.9035. In this case, the pair may continue growing towards 1.9125.
BRENT
Brent is trading at 93.78; 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 92.45 and then resume moving upwards to reach 100.25. Another signal in favour of a 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 90.55. In this case, the pair may continue falling towards 86.55.
Source: Roboforex
