Ichimoku Cloud Analysis 23.03.2022 (EURCAD, AUDUSD, USDJPY)

Article By RoboForex.com

EURCAD, “Euro vs Canadian Dollar”

EURCAD is trading at 1.3878; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3895 and then resume moving downwards to reach 1.3685. 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 1.3945. In this case, the pair may continue growing towards 1.4035.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7455; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.7305 and then resume moving upwards to reach 0.7545. 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 0.7255. In this case, the pair may continue falling towards 0.7165.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 121.09; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 120.95 and then resume moving upwards to reach 121.85. 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 120.65. In this case, the pair may continue falling towards 119.75. To confirm further growth, the asset must break the upside border of the Triangle pattern and fix above 121.35.

Article By RoboForex.com

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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.