EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1829, pushing off the lower border of the ascending channel: buyers are trying to prevent a breakaway of this area. The quotations are alreadytrading under the Ichimoku Cloud, suggesting a downtrend. A test of the lower border of the Cloud at 1.1875 is expected, followed by falling to 1.1645. An additional signal confirming the decline will be a bounce off the resistance line. The falling will be canceled in the case of a breakaway of the upper border of the Cloud and closing above 1.1965, which will mean further growth to 1.2045. The decline will be confirmed by a breakaway of the lower border of the ascending channel and securing under 1.1765.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.3099 under the Ichimoku Cloud, suggesting a downtrend. Another Head and Shoulders reversal pattern is ready to form. A test of the upper border of the Cloud at 1.3105 is expected, followed by falling to 1.2965. An additional signal confirming the decline will be a bounce off the lower border of the ascending channel. The falling will be canceled in the case of a breakaway of the upper border of the Cloud and securing above 1.3145, which will mean further growth to 1.3235. The decline will be confirmed by a breakaway of the support area and securing under 1.3025, which will mean a Head and Shoulders reversal pattern is complete.
CADJPY, “Canadian Dollar vs Japanese Yen”
CADJPY is trading at 81.10 above the Ichimoku Cloud, suggesting an uptrend. A test of the lower border of the Cloud near 80.70 is expected, followed by growth to 82.15. An additional signal confirming the growth will be a bounce off the lower border of the ascending channel. The growth will be canceled in the case of a breakaway of the lower border of the Cloud and closing under 80.25, which will mean further declining to 70.35. The growth will be confirmed by a breakaway of the upper border of the Triangle and securing above 81.55.
