USDRUB, “US Dollar vs Russian Ruble”
USDRUB is trading at 74.79; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 75.25 and then resume moving downwards to reach 72.45. Another signal in favor of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 76.85. In this case, the pair may continue growing towards 77.65. To confirm further decline, the asset must break the rising channel’s downside border and fix below 73.15.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.7226; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.7185 and then resume moving upwards to reach 0.7415. Another signal in favor of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 0.7070. In this case, the pair may continue falling towards 0.6985.
CADCHF, “Canadian Dollar vs Swiss Franc”
CADCHF is trading at 0.7379; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.7315 and then resume moving upwards to reach 0.7535. Another signal in favor of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.7275. In this case, the pair may continue falling towards 0.7185. To confirm further growth, the asset must break the descending channel’s upside border and fix above 0.7420, thus indicating the completion of an Inverted Head & Shoulders reversal pattern.
