EURUSD, “Euro vs US Dollar”
EURUSD is correcting within a bearish channel. The pair is going inside the Ichimoku Cloud, which suggests a sideways movement. A test of the Cloud’s lower boundary at 1.0815 is expected, followed by a rise to 1.0955. A rebound from the lower boundary of the bullish channel could signal a rise. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 1.0775, indicating a further decline to 1.0685. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the bearish channel, with the price finding a foothold above 1.0885.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is testing the resistance area. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s upper boundary at 0.6100 is expected, followed by a rise to 0.6245. 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 below 0.6050, indicating a further decline to 0.5960. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the descending corrective channel, with the price establishing itself above 0.6145.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is rebounding from the upper boundary of the descending channel. The pair is going inside the Ichimoku Cloud, which suggests a sideways movement. A test of the Cloud’s lower boundary at 1.3645 is expected, followed by a rise to 1.3795. An additional signal confirming the rise will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 1.3605, indicating a further decline to 1.3505. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the bearish channel, with the price finding a foothold above 1.3745.
