EURUSD, “Euro vs US Dollar”
EURUSD is rebounding from the Tenkan-Sen line. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.0655 is expected, followed by a rise to 1.0755. 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 1.0545, which will mean a further decline to 1.0450. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bullish channel with the price securing above 1.0715.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is testing the lower boundary of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.3695 is expected, followed by a decline to 1.3615. An additional signal confirming the decline will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.3725, which will mean further growth to 1.3815. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel with the price securing under 1.3635.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has secured above the upper boundary of the Double Bottom reversal pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 0.6355 is expected, followed by a rise to 0.6410. 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 0.6285, which will mean a further decline to 0.6195.
