Article By RoboForex.com
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7039; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the downside border of the cloud at 0.7055 and then resume moving downwards to reach 0.6935. Another signal to confirm further descending movement is the price’s rebounding from the channel’s upside border. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7105. In this case, the pair may continue growing towards 0.7175.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.6659; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the upside border of the cloud at 0.6670 and then resume moving downwards to reach 0.6485. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.6725. In this case, the pair may continue growing towards 0.6795.
USDCAD, “US Dollar vs Canadian Dollar”
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USDCAD is trading at 1.3466; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the upside border of the cloud at 1.3430 and then resume moving upwards to reach 1.3625. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 1.3370. In this case, the pair may continue falling towards 1.3285.
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.
