H4

On Friday NZD has nearly reached the upper border of Ichimoku Cloud on H4 timeframe as a result of a rapid increase in the market volatility. The rate was going down to 0.7860 and crossed the lower border of Tenkan-Kijun channel within the borders of which intraday trading operations took place. Nevertheless bulls managed to continue the uptrend and by the end of the day prices turned positive having closed higher than short-term Indicator lines. Perhaps this is the reason to continue the restoration during today’s trade session as Ichimoku Cloud retains its positive character. Moreover, Senkou Span A 1 is ready for the further growth.

As it was expected, on H1 timeframes the exchange rate tested the lower border of Kumo – Senkou Span B. But bears did not manage to stay at this level as bulls had immediately returned their positions restoring prices to Senkou Span A. The market is likely to continue its growth today as well, irrespective of a quite rapid decrease and due to the upward character of the Cloud. Besides, in the nearest future Chinkou Span can cross the price line and turn positive. This also will add confidence to purchasers.