EURUSD, “Euro vs US Dollar”
EURUSD is pushing off the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0880 is expected, followed by a decline to 1.0665. 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 1.0965, which will indicate further growth to 1.1055.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is testing the support level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud is expected at 1.3495, followed by a rise to 1.3715. The growth can be additionally confirmed 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 securing below 1.3430, which will indicate a further decline to 1.3340.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is correcting within a descending channel. The instrument is going inside the Ichimoku Cloud, which suggests a sideways movement. A test of the resistance level at 0.5980 is expected, followed by a decline to 0.5805. A 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 0.6030, which will mean further growth to 0.6125. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the ascending channel with the price securing below 0.5905.
