Ichimoku Cloud Analysis 08.06.2022 (USDCAD, EURUSD, AUDUSD)

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.

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

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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.