Article By RoboForex.com
EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1804; 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 1.1820 and then resume moving downwards to reach 1.1695. 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 1.1875. In this case, the pair may continue growing towards 1.1965.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 109.51; 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 109.75 and then resume moving downwards to reach 108.80. Another signal in favor 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 110.25. In this case, the pair may continue growing towards 111.15.
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USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.2694; 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 1.2665 and then resume moving upwards to reach 1.2875. Another signal in favor of a further uptrend will be a rebound from the upside border of the Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2565. In this case, the pair may continue falling towards 1.2475. To confirm further growth, the asset must break the resistance level and fix above 1.2725.
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.
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