NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.7185; 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 0.7205 and then resume moving downwards to reach 0.7005. 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 0.7250. In this case, the pair may continue growing towards 0.7345. To confirm further decline, the asset must break the support level and fix below 0.7120 to complete a Head & Shoulders reversal pattern.
XAUUSD, “Gold vs US Dollar”
XAUUSD is trading at 1873.00; 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 1850.00 and then resume moving upwards to reach 1935.00. Another signal in favor of a 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 1800.00. In this case, the pair may continue falling towards 1765.00.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.2106; 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 1.2135 and then resume moving downwards to reach 1.1885. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.2215. In this case, the pair may continue growing towards 1.2305.
