Ichimoku Cloud Analysis 11.01.2023 (EURUSD, NZDUSD, USDCAD)

ichimoku-cloud-analysis-1101.2023-(eurusd,-nzdusd,-usdcad)

EURUSD, “Euro vs US Dollar”

The currency pair has secured above the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.0665 is expected, followed by growth to 1.0895. An additional signal confirming the growth will be a bounce off the upper border of the descending channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 1.0540, which will mean further falling to 1.0435.

NZDUSD, “New Zealand Dollar vs US Dollar”

The currency pair has bounced off the upper border of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 0.6330 is expected, followed by growth to 0.6525. An additional signal confirming the growth will be a bounce off the upper border of the bearish channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 0.6235, which will mean further falling to 0.6145.

USDCAD, “US Dollar vs Canadian Dollar”

The currency pair is correcting inside a descending channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.3430 is expected, followed by falling to 1.3255. An additional signal confirming the decline will be a bounce off the upper border of the descending channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 1.3565, which will mean further growth to 1.3655. The scenario can be confirmed by a breakaway of the lower border of the bullish channel and securing under 1.3375.

Source: Roboforex

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