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Ichimoku Cloud Analysis 29.05.2023 (GBPUSD, NZDUSD, AUDUSD)

Written by

Ezekiel Chew

Updated on

May 29, 2023

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GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is testing the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. Another test of the Kijun-Sen line at 1.2365 is expected, followed by a decline to 1.2165. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 1.2515, which will mean further growth to 1.2610.

GBPUSD

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

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is pushing off the Tenkan-Sen line of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. Another test of the Tenkan-Sen line at 0.6135 is expected, followed by a decline to 0.5895. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 0.6225, which will mean further growth to 0.6315.

NZDUSD

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

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is correcting in a bearish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. Another test of the Kijun-Sen line at 0.6555 is expected, followed by a decline to 0.6385. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 0.6645, which will mean further growth to 0.6535.

AUDUSD

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

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