Ichimoku Cloud Analysis 29.01.2021 (NZDUSD, USDJPY, USDCAD)

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7152; 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 0.7165 and then resume moving downwards to reach 0.7075. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.7185. In this case, the pair may continue growing towards 0.7245.

NZDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future
USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 104.45; 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 104.35 and then resume moving upwards to reach 105.05. Another signal in favor 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 103.75. In this case, the pair may continue falling towards 102.85.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future
USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2871; 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 1.2835 and then resume moving upwards to reach 1.2985. Another signal in favor 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 1.2745. In this case, the pair may continue falling towards 1.2655.

USDCAD