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Ichimoku Indicator

25.11.202017:31 Forex Analysis & Reviews: Ichimoku cloud indicator analysis of NZDUSD

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NZDUSD remains in a bullish trend and we use the Ichimoku cloud indicator to identify key short-term price levels that will affect trend.

NZDUSD is challenging 0.70 again, Price continues to trade above the tenkan-sen (Red line indicator) and the kijun-sen (yellow line indicator). Support by these two indicators is at 0.6970 and 0.6938 respectively. Breaking below the tenkan-sen will most probably push price towards the kijun-sen. If 0.6938 is broken also, we expect price to move towards 0.69 and cloud support. Trend remains bullish as long as price is above the Kumo (cloud).

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