EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1840; 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 1.1805 and then resume moving upwards to reach 1.1945. Another signal in favor of a further uptrend will be a rebound from the ascending channel’s downside border. However, the bullish scenario may be cancelled if the price breaks the cloud’s downside border and fixes below 1.1715. In this case, the pair may continue falling towards 1.1625.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7377; 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 0.7345 and then resume moving upwards to reach 0.7445. 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 0.7305. In this case, the pair may continue falling towards 0.7210.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.2616; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.2620 and then resume moving downwards to reach 1.2435. Another signal in favor of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.2795. In this case, the pair may continue growing towards 1.2885. To confirm further decline, the asset must break the downside border of the Triangle pattern and fix below 1.2540.
