EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1330; 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 1.1365 and then resume moving downwards to reach 1.1225. 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 1.1450. In this case, the pair may continue growing towards 1.1545.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.2503; 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 1.2525 and then resume moving downwards to reach 1.2275. 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 1.2685. In this case, the pair may continue growing towards 1.2775.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7186; 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 0.7215 and then resume moving downwards to reach 0.7060. Another signal in favour of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.7285. In this case, the pair may continue growing towards 0.7375. To confirm further decline, the asset must break the rising channel’s downside border and fix below 0.7125.
Source: Roboforex
