EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1366; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.1380 and then resume moving downwards to reach 1.1180. Another signal in favour of a further downtrend will be a rebound from the upside border of the Triangle pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.1445. In this case, the pair may continue growing towards 1.1535. To confirm further decline, the asset must break the pattern’s downside border and fix below 1.1285.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 114.94; 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 115.15 and then resume moving downwards to reach 113.60. 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 115.80. In this case, the pair may continue growing towards 116.65.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.6721; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6660 and then resume moving upwards to reach 0.6855. 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 0.6620. In this case, the pair may continue falling towards 0.6530.
Source: Roboforex
