Article By RoboForex.com
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.6655; 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 0.6670 and then resume moving downwards to reach 0.6505. Another signal in favor of further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.6750. In this case, the pair may continue growing towards 0.6845. To confirm further decline, the asset must break the support area and fix below 0.6590, thus indicating the completion of a Double Top reversal pattern. The target of the pattern materialization is at 0.6435.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.3223; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3270 and then resume moving upwards to reach 1.3450. Another signal in favor of further uptrend will be a rebound from the upside border of a Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.3110. In this case, the pair may continue falling towards 1.3015.
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.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.2786; 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 1.2825 and then resume moving downwards to reach 1.2675. Another signal in favor of 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 1.2910. In this case, the pair may continue growing towards 1.3005.
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.
- As expected, the RBNZ cut the rate by 0.5%. Australia’s inflation rate remained at its lowest level since the summer of 2021 Nov 27, 2024
- EUR/USD Steady Ahead of Major US Data Releases Nov 27, 2024
- NZD/USD Hits Yearly Low Amid US Dollar Strength Nov 26, 2024
- Trump plans to raise tariffs by 10% on goods from China and 25% on goods from Mexico and Canada Nov 26, 2024
- Fast fashion may seem cheap, but it’s taking a costly toll on the planet − and on millions of young customers Nov 25, 2024
- “Trump trades” and geopolitics are the key factors driving market activity Nov 25, 2024
- EUR/USD Amid Slowing European Economy Nov 25, 2024
- COT Metals Charts: Weekly Speculator Changes led by Platinum Nov 23, 2024
- COT Bonds Charts: Speculator Bets led lower by 5-Year & 10-Year Bonds Nov 23, 2024
- COT Soft Commodities Charts: Speculator Bets led lower by Soybean Oil, Soybean Meal & Cotton Nov 23, 2024
