Article By RoboForex.com
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is rebounding from Tenkan-Sen and Kijun-Sen. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2595 and then resume moving downwards to reach 1.2275. 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 1.2785. In this case, the pair may continue growing towards 1.2875.
EURUSD, “Euro vs US Dollar”
EURUSD is testing the bullish channel’s downside border. The instrument is currently moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 1.0680 and then resume moving upwards to reach 1.0915. 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 1.0595. In this case, the pair may continue falling towards 1.0495. To confirm a further uptrend, the price must break the upside border of the Triangle pattern and fix above 1.0765.
Free Reports:
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has fixed below the bullish channel’s downside border. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6465 and then resume moving downwards to reach 0.6285. 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 0.6555. In this case, the pair may continue growing towards 0.6645.
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.
- RoboForex Receives Best Introducing Broker Programme Award Nov 18, 2024
- The hawkish attitude of FOMC representatives puts pressure on stock indices. Oil is growing amid escalation in Eastern Europe Nov 18, 2024
- AUD/USD Stabilises Amid RBA’s Hawkish Outlook Nov 18, 2024
- COT Metals Charts: Speculator Changes led lower by Gold & Platinum Nov 17, 2024
- COT Bonds Charts: Large Speculator bets led by 2-Year & Ultra Treasury Bonds Nov 17, 2024
- COT Soft Commodities Charts: Large Speculator bets led by Corn & Soybean Oil Nov 16, 2024
- COT Stock Market Charts: Speculator Bets led by MSCI EAFE & VIX Nov 16, 2024
- The Dollar Index strengthened on Powell’s comments. The Bank of Mexico cut the rate to 10.25% Nov 15, 2024
- EURUSD Faces Decline as Fed Signals Firm Stance Nov 15, 2024
- Gold Falls for the Fifth Consecutive Trading Session Nov 14, 2024
