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Ichimoku Cloud Analysis 12.05.2020 (EURUSD, USDCAD, USDJPY)

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.0810; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.0820 and then resume moving downwards to reach 1.0740. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.0865. In this case, the pair may continue growing towards 1.0945.

EURUSD is trading at 1.0810
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.4026; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3975 and then resume moving upwards to reach 1.4150. Another signal in favor of further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.3905. In this case, the pair may continue falling towards 1.3815. To confirm further growth, the asset must break the descending channel’s upside border and fix above 1.4070.

USDCAD is trading at 1.4026
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 107.39; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 107.20 and then resume moving upwards to reach 108.25. Another signal to confirm further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 106.65. In this case, the pair may continue falling towards 105.75.

is trading at 107.39
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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