USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is correcting after a rebound from the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.3415 is expected, followed by a decline to 1.3195. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 1.3525, which will mean further growth to 1.3605. Meanwhile, the decline can be confirmed by a breakout of the lower border of the bullish channel, securing under 1.3320.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is pushing off the lower border of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 134.75 is expected, followed by a decline to 131.25. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 135.75, which will mean further growth to 136.65. Meanwhile, the decline can be confirmed by a breakout of the lower border of the bullish channel, securing under 133.30.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is getting ready to break the upper border of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 0.6690 is expected, followed by growth to 0.6875. An additional signal confirming the decline will be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a breakout of the lower border of the Cloud, securing under 0.6590, which will mean a further decline to 0.6405. Meanwhile, the growth can be confirmed by a breakout of the upper border of the descending channel, securing above 0.6775.
