EURUSD, “Euro vs US Dollar”
EURUSD is correcting after a strong decline. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the Kijun-Sen line at 1.0680 is expected, followed by a decline to 1.0565. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.0710, which will mean further growth to 1.0805.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is pushing off the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.3545 is expected, followed by a decline to 1.3365. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.3625, which will mean further growth to 1.3705.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is testing the upper boundary of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 0.6445 is expected, followed by a rise to 0.6575. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 0.6380, which will mean a further decline to 0.6290.
