Ichimoku Cloud Analysis 26.02.2021 (USDCAD, CADJPY, USDCHF)

Article By RoboForex.com

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2607; 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 1.2625 and then resume moving downwards to reach 1.2450. Another signal in favor 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 1.2725. In this case, the pair may continue growing towards 1.2805.

CADJPY, “Canadian Dollar vs Japanese Yen”

CADJPY is trading at 84.19; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the support area at 83.75 and then resume moving upwards to reach 85.45. Another signal in favor 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 82.45. In this case, the pair may continue falling towards 81.65.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading at 0.9052; 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 0.9035 and then resume moving upwards to reach 0.9125. Another signal in favor of a further uptrend will be a rebound from the support area. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.8895. In this case, the pair may continue falling towards 0.8805. To confirm further growth, the asset must break the descending channel’s upside border and fix above 0.9065.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.