EURUSD, “Euro vs US Dollar”
EURUSD is testing the Tenkan-Sen line after rebounding from the lower boundary of the bullish channel. The pair is moving below the Ichimoku Cloud, indicating a downtrend. A test of the Cloud’s lower boundary at 1.0825 is expected, followed by a decline to 1.0725. A rebound from the upper boundary of the bearish channel would further confirm the decline. A breakout of the Cloud’s upper boundary could invalidate this scenario, with the price securing above 1.0865, indicating a continuation of the rise to 1.0955.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is rebounding from the lower boundary of the bullish channel. The pair remains within the Ichimoku Cloud, suggesting a sideways trend. A test of the Cloud’s lower boundary at 1.3660 is expected, followed by a rise to 1.3780. A rebound from the lower boundary of the bullish channel would confirm the upward movement. A breakout of the Cloud’s lower boundary could invalidate this scenario, with the price securing below 1.3635, indicating a further decline to 1.3545. A breakout of the upper boundary of the ”Triangle” model with the price securing above 1.3745 will confirm the rise.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is correcting within the bullish channel. The pair is moving above the Ichimoku Cloud, suggesting an uptrend. A test of the Cloud’s upper boundary at 0.6115 is expected, followed by a rise to 0.6225. A rebound from the lower boundary of the bullish channel would further confirm the upward trend. A breakout of the Cloud’s lower boundary could invalidate this scenario, with the price securing below 0.6050, indicating a further decline to 0.5960.
