EURUSD, “Euro vs US Dollar”
EURUSD has secured above the Tenkan-Sen line. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.0885 is expected, followed by a rise to 1.1065. 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 finding a foothold under 1.0785, which will mean a further decline to 1.0695. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the descending channel with the price finding a foothold above 1.0955.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY 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 lower boundary of the Cloud at 143.75 is expected, followed by a decline to 139.65. 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 finding a foothold above 145.75, which will mean a further growth to 146.60. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the ascending channel with the price finding a foothold under 141.85.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is declining within a bearish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.3430 is expected, followed by a decline to 1.3245. 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 finding a foothold above 1.3595, which will mean a further growth to 1.3685.
