EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1440; 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 1.1395 and then resume moving upwards to reach 1.1525. Another signal in favour of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.1275. In this case, the pair may continue falling towards 1.1185.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 114.62; 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 115.05 and then resume moving downwards to reach 113.35. 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 116.15. In this case, the pair may continue growing towards 117.05.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.2500; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2555 and then resume moving downwards to reach 1.2365. 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 1.2645. In this case, the pair may continue growing towards 1.2735.
Source: Roboforex
