EURUSD, “Euro vs US Dollar”
EURUSD is bouncing off the Tenkan-Sen line. The pair is moving below the Ichimoku Cloud, suggesting a downtrend. A test of the lower boundary of the Double Top reversal pattern at 1.0780 is expected, followed by a decline to 1.0645. A rebound from the upper boundary of the bearish channel would be an additional signal confirming the fall. The scenario could be invalidated by a breakout of the upper boundary of the Cloud, with the price securing above 1.0895, indicating a further rise to 1.0985.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is testing the indicator’s signal lines. The pair is moving below the Ichimoku Cloud, suggesting a downtrend. A test of the Kijun-Sen line at 0.6630 is expected, followed by a decline to 0.6525. A rebound from the upper boundary of the bearish channel would be an additional signal confirming the fall. The scenario could be invalidated by a breakout of the upper boundary of the Cloud, with the price securing above 0.6670, indicating a further rise to 0.6765. Conversely, a decline could be confirmed by a breakout below the lower boundary of the ascending channel, with the price finding a foothold below 0.6575.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is correcting after breaching the upper boundary of the Triangle pattern. The pair is moving above the Ichimoku Cloud, suggesting an uptrend. A test of the Kijun-Sen line at 1.3735 is expected, followed by a rise to 1.3835. A rebound from the lower boundary of the bullish channel would be an additional signal confirming the increase. The scenario could be invalidated by a breakout of the lower boundary of the Cloud, with the price securing below 1.3645, indicating a further decline to 1.3555.
