NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.6777; 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 0.6810 and then resume moving downwards to reach 0.6655. 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 0.6865. In this case, the pair may continue growing towards 0.6955. To confirm further decline, the asset must break the rising channel’s downside border and fix below 0.6720.
BRENT
Brent is trading at 87.81; 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 86.75 and then resume moving upwards to reach 91.15. Another signal in favour of a further uptrend will be a rebound from the rising 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 82.55. In this case, the pair may continue falling towards 78.05.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is trading at 0.9150; 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 0.9165 and then resume moving downwards to reach 0.9045. 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 0.9225. In this case, the pair may continue growing towards 0.9305. To confirm further decline, the asset must break the rising channel’s downside border and fix below 0.9125.
Source: Roboforex
