EURUSD, “Euro vs US Dollar”
EURUSD is rebounding from the bullish channel’s downside border. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.0665 and then resume moving downwards to reach 1.0435. Another signal in favour 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 1.0765. In this case, the pair may continue growing towards 1.0855.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is about to break the cloud’s upside border. The instrument is currently moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2630 and then resume moving upwards to reach 1.2905. Another signal in favour of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2530. In this case, the pair may continue falling towards 1.2445.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is testing the resistance level. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6435 and then resume moving downwards to reach 0.6305. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.6470. In this case, the pair may continue growing towards 0.6560.
Source: Roboforex
