Ichimoku Cloud Analysis 12.05.2022 (EURUSD, USDCAD, USDJPY)

EURUSD, “Euro vs US Dollar”

EURUSD has fixed below 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 1.0520 and then resume moving downwards to reach 1.0285. 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 1.0635. In this case, the pair may continue growing towards 1.0725.



USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is testing the resistance area. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2885 and then resume moving upwards to reach 1.3305. Another signal in favour 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 1.2785. In this case, the pair may continue falling towards 1.2695.



USDJPY, “US Dollar vs Japanese Yen”

USDJPY is no longer moving within the bullish channel. 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 upside border at 130.10 and then resume moving downwards to reach 127.05. 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 130.95. In this case, the pair may continue growing towards 131.90.



Source: Roboforex

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