Ichimoku Cloud Analysis 07.09.2021 (EURUSD, NZDUSD, GBPUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1870; 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 1.1820 and then resume moving upwards to reach 1.2020. Another signal in favor of a further uptrend will be a rebound from the support level of a “5-0” bullish pattern. However, the bullish scenario may be cancelled if the price breaks the cloud’s downside border and fixes below 1.1735. In this case, the pair may continue falling towards 1.1645. To confirm further growth, the asset must break the resistance level and fix above 1.1905.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7117; 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 0.7105 and then resume moving upwards to reach 0.7355. Another signal in favor of a further uptrend will be a rebound from the support level. However, the bullish scenario may be cancelled if the price breaks the cloud’s downside border and fixes below 0.6985. In this case, the pair may continue falling towards 0.6895.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3822; 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 1.3815 and then resume moving upwards to reach 1.4175. Another signal in favor of a 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 1.3655. In this case, the pair may continue falling towards 1.3565. To confirm further growth, the asset must break the resistance level and fix above 1.4005, thus completing a Double Bottom reversal pattern.