EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1204; 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 1.1285 and then resume moving downwards to reach 1.1005. 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 1.1415. In this case, the pair may continue growing towards 1.1505.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.2790; 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 1.2775 and then resume moving upwards to reach 1.2935. 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 1.2715. In this case, the pair may continue falling towards 1.2605.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is trading at 0.9235; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 0.9215 and then resume moving upwards to reach 0.9335. 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 0.9165. In this case, the pair may continue falling towards 0.9075. To confirm further growth, the asset must break the descending channel’s upside border and fix above 0.9295.
Source: Roboforex
