AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.6785; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6795 and then resume moving downwards to reach 0.6645. Another signal to confirm further descending movement is the price’s rebounding from Triangle’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6825. In this case, the pair may continue growing towards 0.6905. After breaking the pattern’s downside border and fixing below 0.6705, the price may continue moving downwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.6454; 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 0.6455 and then resume moving downwards to reach 0.6315. Another signal to confirm further descending movement is the price’s rebounding from the downtrend line. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6525. In this case, the pair may continue growing towards 0.6645.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.3223; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3240 and then resume moving downwards to reach 1.3085. Another signal to confirm further descending movement is the price’s forming Head & Shoulders reversal pattern. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 1.3280. In this case, the pair may continue growing towards 1.3365. After breaking the rising channel’s downside border and fixing below 1.3170, the price may continue moving downwards.
