EURUSD, “Euro vs US Dollar”
EURUSD has pushed off the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 1.0755 is expected, followed by falling to 1.0505. An additional signal confirming the decline will be a bounce off the upper border of the descending channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 1.0875, which will mean further growth to 1.0965.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is testing the Tenkan-Sen line. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 131.15 is expected, followed by growth to 135.05. An additional signal confirming the decline will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 130.25, which will mean further falling to 129.35.
Free Reports:
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.
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is correcting by the Head and Shoulders pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 0.6365 is expected, followed by falling to 0.6175. An additional signal confirming the decline will be a bounce off the upper border of the descending channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 0.6420, which will mean further growth to 0.6515. The scenario can be confirmed by a breakaway of the lower border of the Head and Shoulders pattern and securing under 0.6265.
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.
- Oil prices were down by 10% in 2 weeks, and natural gas lost 19%. The PBoC cut interest rates Oct 21, 2024
- Gold Hits New Record Amid Geopolitical Tensions and US Election Uncertainty Oct 21, 2024
- COT Metals Charts: Speculator bets led by Gold & Platinum Oct 19, 2024
- COT Bonds Charts: Speculator bets led by 10-Year & US Treasury Bonds Oct 19, 2024
- COT Soft Commodities Charts: Speculator bets led by Lean Hogs & Live Cattle Oct 19, 2024
- COT Stock Market Charts: Speculator bets led by S&P500 & Russell 2000 Minis Oct 19, 2024
- PBoC launches new stimulus for the economy. Silver hits two-month high Oct 18, 2024
- USDJPY Adjusts Amid Mixed Signals from Japan’s Economic Data Oct 18, 2024
- Week Ahead: Tesla kicks off Big Tech earnings Oct 18, 2024
- A strong Australian labor market report reinforced the RBA’s hawkish stance. Banks in Thailand and the Philippines cut interest rates Oct 17, 2024
