EURUSD, “Euro vs US Dollar”
EURUSD is correcting after failing to break the support level. The pair is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0875 is expected, followed by a decline to 1.0715. The decline could be additionally supported by 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 1.0955, which will signal further growth to 1.1045.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is rebounding from the signal lines of the indicator. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s upper boundary at 147.45 is expected, followed by a rise to 151.25. The rise could be additionally supported by 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 gaining a foothold below 145.25, which will indicate a further decline to 144.35. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the bearish channel, with the price establishing itself above 149.05.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has found a foothold above the signal lines of the indicator. The pair is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 0.6135 is expected, followed by a decline to 0.5965. The decline could be additionally supported by a rebound from the upper boundary of the descending channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud, with the price securing above 0.6205, which will indicate further growth to 0.6305.
